BASF says it expects significant sales growth in the year ahead German chemicals firm BASF has reported strong fourth quarter results after the improving global economy boosted sales.
BASF reported a profit of 1.1bn euros ($1.5bn; £931m), up from 455m euros in the same period a year earlier.
For the full year the firm reported a net profit of 4.56bn euros, up from 1.4bn euros in 2009.
However, BASF said it was "concerned" about the situation in Libya, where its Wintershall subsidiary has oil interests.
On Wednesday, the firm said it was temporarily suspending operations in the country.
"With respect to Libya, BASF hopes that the situation will calm down soon," it said in a statement.
Raw materials
BASF was "able to take advantage of the strong economic recovery in 2010, which was more dynamic than we all initially expected," said chief executive Juergen Hambrecht.
The company says in was also able to pass on the costs of increasing raw materials prices to its customers.
BASF said it expected "significant sales growth" in 2011.
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Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-12563817
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