Lincare headlines Linde’s strong growth
FRANKFURT, Germany – Boosted in part by its 2012 acquisition of Lincare, Linde AG has reported a better-than-expected 12.6% increase in operating profit for the first quarter, according to multiple reports.
Clearwater-Fla.-based Lincare contributed 397 million euros of Linde’s 3.99 billion euros in sales for the first quarter, helping to increase revenues in the gases division by 15%.
“Despite less than favorable conditions, especially in the mature markets, we have continued to achieve profitable growth,” stated CEO Wolfgang Reitzle. “Our newly acquired operations in the health-care product area made the most significant contribution here.”
For all of 2013, Linde is targeting at least 4 billion euros in operating profit, thanks to expected earnings contributions from Lincare, according to reports.
Linde bought Lincare for $3.8 billion in August. It also bought the former homecare business of Air Products in January of 2012.