BASF posted a jump in net profit for the first six months of the year, boosted by a gain from the disposal of a unit, increased prices and volumes. The German chemical giant on Wednesday posted net profit of 5.07 billion euros ($5.77 billion) for the first half, up from 887 million euros in the prior year.

The company benefited from a 3.9 billion euro disposal gain from its coatings division deal with Carlyle, while revenue rose 6.2% to 33.23 billion euros. The company confirmed its preliminary figures for the second quarter, with net profit at 4.14 billion euros and sales at 17.21 billion euros.

The rise in earnings was supported by higher prices and volumes, it said. The company said it will launch a €1 billion share buyback program in August.