Business
BASF Swings to Net Profit on Accelerated Cost Savings
Germany’s returned to net profit in the fourth quarter, supported by cost-saving programs and streamlining of the organization.
The chemical giant on Friday said it swung to a net profit in the fourth quarter of 560 million euros ($660.8 million) from a loss of 786 million euros in the prior-year period. The figure beat analysts’ forecasts of 285 million euros, according to consensus estimates provided by the company.
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