Chemicals group BASF Q3 profits climb 181%

LONDON (CBS.MW) — Chemicals group BASF (BF) (DE:515100) said Thursday third quarter net profits jumped 180.8 percent to 337 million euros, with sales up 20.3 percent to 9.31 billion euros. Capacity utilization of BASF’s plants improved due to strong demand, and high oil prices allowed it “to pass on some necessary price increases to the market.” It reiterated it sees a significant rise in sales and EBIT before special items for 2004.