World's largest chemical producer BASF reported a better-than-expected second-quarter net profit as it managed to increase volumes and prices helped by strong demand.

The Germany-based giant reported a second-quarter net income of 1.7 billion euros compared to the 1.4 billion euros expected on average by analysts in a company-provided poll.

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The company confirmed the preliminary figures for second-quarter adjusted earnings before interest and tax (EBIT) and sales as well as the 2021 guidance it announced on July 9.