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BASF surprised analyzers with higher profit

The German chemical company BASF announced a profit of 1.03 billion for the first quarter. This is nearly three times more than realized in the same period last year, 375 million. BASF's sales jumped by 26 per cent yoy to 15.5 billion. Analysts estimates were for a profit of 878 million based on revenue 14.59 billion, writes Market Watch. Against the strong results expected by BASF will remain stable for the remainder of the year. "We expect net profit excluding one-off effects into account to increase significantly again to work with a premium over the cost of capital," says the report. Despite the good news today of BASF shares dropped by 3.15 percent to 44.79 euros per share. The company realized increase because of the end of financial and mortgage crisis in Europe. The companies stabilized the business and sales, which opened the doors for their financial results.
The banks and financial institutions also gave hard increase of the indexes in Europe.