Delivering its ninth consecutive quarter of double-digit adjusted revenue growth in its latest financial results, Air Products has completed its 2016 earnings on a high.
Citing recent project wins in the US and Korea, progress on the Jazan project in the Middle East and the spin-off of its Electronics Materials Division and Performance Materials Division as highlights behind its success, the US-based business posted a quarterly revenue increase of 16% versus the prior year.
It reported a total net income from continuing operations of $402m with fourth quarter sales inching up to $2.46bn – a 1% increase from the previous fiscal year. Air Products attributed this growth to a surge of 3% in volumes, primarily driven by the Jazan project, which more than offset lower energy pass-through and unfavourable currency impacts.
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