BOC has posted record first quarter earnings as the gases group underlined its value in the face of a £7.6 billion takeover move by German firm Linde.
The Surrey-based firm remained silent on the offer situation, but said last week the interest undervalued the business and also risked regulatory problems.
Chief executive Tony Isaac refused to add to this statement, nor would he provide much detail on the outlook for BOC.
"We continue to be confident that the group's current strategy will deliver growth and excellent returns to our shareholders," he said.
But Mr Isaac did forecast that ten plants under construction in Asia and the Americas, which are scheduled to be commissioned later this year and in 2007, would make around £30 million profit in their first full year of operation.
Yesterday, BOC group reported profits of £151 million for the last three months of 2005, a two per cent rise, on revenues up four per cent to £1.22 billion.
Keith Bowman, equity analyst at Hargreaves Lansdown stockbrokers, said profits were at the lower end of market expectations but added the results would do BOC no harm in showing its worth.
"BOC is going to stand firm in terms of what it says is the value of the company," he said.
"It is making a great play of it being the biggest operator in the Chinese market which it sees as giving it a higher value."
The firm also said that up to 90 jobs at its BOC Edwards sites in Crawley, West Sussex and Bolton, Lancashire could be axed - with the work transferred to India and the Czech Republic in a cost-cutting drive.
The record earnings come despite a slow down in demand from European manufacturers for its products - which include gas in cylinders and items for cutting and welding.
This left profit in the industrial and special products arm unchanged, despite revenues increasing five per cent, driven by demand in South Africa and the south Pacific.
The process gas solutions arm achieved turnover of £429.6 million, a rise of 16 per cent on a year earlier and helping profits lift nine per cent to £56.6 million as higher energy costs were absorbed in raised selling prices.
Its pump and turbine business also contributed to the division with an increase in orders for industrial gas equipment.
BOC Edwards saw profits of £11.5 million - up 14 per cent on the previous year but down on the prior quarter.
The firm said that despite higher than expected pension costs and disruption from the Buncefield oil terminal explosion, its logistics business Gist - which has contracts with Marks & Spencer, Carlsberg and Woolworths - increased profits by 37 per cent.