Skip to Content

Lincare headlines Linde's strong growth

Lincare headlines Linde's strong growth

FRANKFURT, Germany - Boosted in part by its 2012 acquisition of Lincare, Linde AG has reported a better-than-expected 12.6% increase in operating profit for the first quarter, according to multiple reports.

Clearwater-Fla.-based Lincare contributed 397 million euros of Linde's 3.99 billion euros in sales for the first quarter, helping to increase revenues in the gases division by 15%.

“Despite less than favorable conditions, especially in the mature markets, we have continued to achieve profitable growth,” stated CEO Wolfgang Reitzle. “Our newly acquired operations in the health-care product area made the most significant contribution here.”

For all of 2013, Linde is targeting at least 4 billion euros in operating profit, thanks to expected earnings contributions from Lincare, according to reports.

Linde bought Lincare for $3.8 billion in August. It also bought the former homecare business of Air Products in January of 2012.

Comments

To comment on this post, please log in to your account or set up an account now.