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BASF forecast its sales in 2011 will rise by around ?3bn

February 24/2011

(ICIS) -- BASF has forecast that its sales in 2011 will rise by around ?3bn ($4.1bn) from the previous year following the full integration of specialty chemicals producer Cognis, the chairman of the German chemicals major said on Thursday.

Speaking at BASFs annual financial press conference, Jurgen Hambrecht said that the company was optimistic about its performance in 2011 following a strong start in the first quarter.

Earlier on Thursday, BASF posted fourth-quarter net income of ?1.1bn ($1.5bn), compared with ?455m in the 2009 fourth quarter, whiles sales surged 25% year on year to ?16.4bn, the highest of any quarter last year.

BASFs full-year net income in 2010 more than tripled to ?4.56bn, compared with ?1.41bn in 2009, as sales rose 26% year on year to ?63.9bn.

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