By Dominic Chopping
Air Liquide SE Thursday reported a 6.2% fall in first-half revenue but backed full-year net profit guidance despite the coronavirus pandemic.
The French industrial-gas supplier said revenue fell to 10.27 billion euros ($12.07 billion) in the first half of the year, from EUR10.95 billion in the same period last year.
Air Liquide said it generated EUR200 million in efficiencies during the first six months of the year in line with its aim to achieve more than EUR400 million in efficiencies in 2020.
The company said it is still confident net profit for the year will be close to the 2019 level and that it can increase the operating margin further.
"In a context of limited local lockdowns and progressive recovery during the second half of 2020, Air Liquide is confident in its ability to further increase its operating margin and to deliver net profit close to preceding year level, at constant exchange rates," said Chief Executive Benoit Potier.
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