INDUSTRIAL gases company BOC reported a "resilient" performance over the past year, despite falling manufacturing output and a slump in semiconductor demand.
The group, which has operations at Teesport and Chester-le-Street, County Durham, revealed that pre-tax profits for the year to September 30, stripping out one-off costs, rose eight per cent, to £480.3m.
But, after restructuring costs and charges, profits came in at £392.3m, down from £457.2m.
Tony Isaac, chief executive, said: "These results clearly demonstrate the resilience of our business in difficult market conditions.
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