By Nathan Allen

Air Liquide SA (AI.FR) said Monday that its first-half net profit rose 12.1%, despite a slight drop in revenue.

Net profit at the French industrial-gases producer was 1.04 billion euros ($1.21 billion) up from EUR928 million a year earlier, while revenue dropped 1.3% to EUR10.16 billion, the company said.

Analysts had predicted revenue of EUR10.07 billion, according to a FactSet-compiled consensus.

Synergies from the 2016 acquisition of Airgas reached $260 million, and the company is set to hit its synergy target of $300 million during the first half of 2019, Air Liquide said.

Sales grew across all regions and all divisions, with double-digit growth in China driving a strong contribution from the Asia-Pacific region, the company said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 30, 2018 01:48 ET (05:48 GMT)

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