BOC Group has delivered disappointing profits, but remains positive about the future of its core business.
The group puts the drop of nine per cent for the quarter ending 30 June down to the sale of parts of its healthcare business in South Africa, but says industrial gases, which make up to 80 per cent of its business performed well, helped by increasing demand in the US and Asia as well as higher prices.
Chief executive, Tony Isaac, said: The outlook for BOC’s global gases business remains positive. Manufacturing recovery in South Africa and positive trends in North America and much of Asia are offsetting weaker trends in the UK and Australia.
And he said prospects for Process Gas Solutions remain strong, supported by projects expected to come on stream during the next two years.
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