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BOC Group remains profitable despite decline in output manufacturing

UK-based BOC Group PLC, the world“s second-largest producer of industrial and specialty gases, said that it faced a decline in manufacturing output in some of its markets in 2001, but the impact of t…

UK-based BOC Group PLC, the world“s second-largest producer of industrial and specialty gases, said that it faced a decline in manufacturing output in some of its markets in 2001, but the impact of this decline has been contained and the company has remained profitable. Reporting earnings for the 12 months to 30 September, BOC said its pre-tax profit was GBP 480.3 million, compared with GBP 444.7 million a year earlier, on sales of GBP 4.16 billion, compared with GBP 3.88 billion. BOC had been expected to post pre-tax profit of around GBP 452 million. BOC said its BOC Edwards unit reported a 4% year-on-year rise in operating profit to GBP 90.0 million, following a 25% fall in the third quarter. The unit“s key semiconductor market may remain depressed “for at least six months”, BOC said, and cost-cutting was responsible for limiting the impact of the subdued market on Edwards during the period.

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