Oct 24, 2014 3:51 AM

Germany's BASF cuts 2015 profit outlook

The Associated Press

BERLIN (AP) Chemical and oil company BASF has cut its outlook for next year, pointing to slower global economic growth and industrial production.

Shares in BASF SE dropped 2.4 percent to 69.34 euros ($87.70) in Frankfurt trading Friday after the company revised its forecast.

BASF upheld its target of a slight increase in pre-tax earnings this year but said that "from today's point of view" it no longer expects to reach its previous 2015 forecast of 80 billion euros in revenue and 14 billion euros in pretax profit.

It says it now expects those figures to be "in line with market expectations" in the case of pretax profit that means somewhere between 10 and 12 billion euros.


--  Dealing with the Disease of Addiction? Click here for help --

More from NH1.com

NH1 News Debates
NH1 News Replay

NH1 on Twitter

NH1 SkyView Cameras

NH1 on Facebook

Check out NH1 News Rail Polls on LockerDome on LockerDome