BASF operating profit down 24% as trade disputes weigh

Credit: REUTERS/Christian Hartmann

Operating income at Germany's BASF dropped 24% in the July-to-September period as uncertainty over trade disputes weighed on demand for basic petrochemicals and foam ingredients.

FRANKFURT, Oct 23 (Reuters) - Operating income at Germany's BASF BASFn.DE dropped 24% in the July-to-September period as uncertainty over trade disputes weighed on demand for basic petrochemicals and foam ingredients.

The world's largest chemicals company by sales said on Thursday that earnings before interest and tax (EBIT), adjusted for one-off items, dropped to 1.1 billion euros ($1.2 billion), in line with market expectations.

BASF, whose products include catalytic converters, coatings, foams for car seats and plastics for engine parts, reaffirmed earlier projections that adjusted EBIT for the full year would be as much as 30% below the year-earlier figure.

($1 = 0.8981 euros)

(Reporting by Ludwig Burger Editing by Tassilo Hummel)

((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters Messaging: ludwig.burger.thomsonreuters.com@reuters.net))

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