The Board of Directors of Société d’Oxygène et d’Acétylène d’Extrême-Orient (SOAEO), an Air Liquide subsidiary whose activities are mainly centred in south-east Asia, have approved the 2004 financial statement.
SOAEO report a continued growth in net earnings of +7.5% (+15.2% excluding foreign exchange), with an increased dividend of €3.60 per share.
Sales grew by 3.7%, excluding foreign exchange, compared with the same period in 2003.
Sales are mostly generated in Indonesia and Thailand through long-term contracts, where activity was sustained. The Philippines benefited from strong growth resulting from sales in electronics gas and equipment. In Hong Kong business grew, especially in the speciality gas and medical equipment categories. In Singapore, business improved in most sectors. Sales of equipment for Electronics were lower than the notably strong sales of 2003. In Malaysia, business slowed with lower sales in cylinder gas and welding equipment.
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