BOC’s two global gases businesses performed strongly in both the fourth quarter and in 2005. In aggregate their adjusted operating profit was up seven per cent in the quarter and eight per cent for the year.
Group results overall are impacted by portfolio changes including the disposal of a controlling interest in the Afrox hospitals business with effect from the end of March 2005.
ISP’s adjusted operating profit was improved by the disposal of the US packaged gas business in July 2004 and the elimination of associated overhead costs.
Increased energy costs were largely recovered through higher selling prices. BOC Edwards’ adjusted operating profit in the fourth quarter was better than in the third quarter, reflecting the early benefits of cost savings programmes that are planned to deliver further benefits in 2006.
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