Friday May 9, 02:15 PM
Linde sees negative currency impact on co abating over the year
MUNICH (Thomson Financial) - Linde AG (Xetra: 648300 - news) .'s Chief Financial Officer Georg Denoke said the industrial gases
company has probably seen the worst in negative foreign exchange effects in the first quarter and that he does not expect the euro to appreciate much further.
The impact of the strong euro is set to be 'a little bit smaller' during the remainder of the year than in the first three months, Denoke told analysts in a conference call.
Linde's first-quarter operating profit, reported Friday, fell short of analysts' estimates as foreign exchange effects weighed on the euro value of its revenues from oversees, triggering a slump in the share price.
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