Linde AG reports first-quarter profit that beat analyst estimates

Linde AG, the German industrial gases company that bought US oxygen-services provider Lincare last year, reported first-quarter profit that beat analyst estimates, helped by takeovers. Operating profit climbed 13 per cent to €953 million ($1.25 billion), the Munich-based company said yesterday. That exceeded the €935 million average estimate of eight analysts surveyed by Bloomberg. The stock climbed as much as 3.2 per cent, the most in six months. “The numbers are clearly better than expected, and the background is the gases sector,” said Eggert Kuls, a Hamburg-based Warburg Research analyst who recommends buying Linde shares. Linde shares traded 3.2 per cent higher at €147.25 as of 9.49am in Frankfurt. The stock has gained 11 per cent this year, valuing the company at €27 billion. – (Bloomberg)