Chr Hansen posts rise in H1 net profit

20 April 2012

Chr Hansen, an international company focused in the production of natural ingredients for food, beverage, dietary supplements and agricultural industries, has reported a rise in its H1 2012 net profit by 19%.

The company's net profit for the period increased to €56.8m, compared to €47.7m in the corresponding period of fiscal 2011.

The company attributed the rise in its net profit in the first half of fiscal 2012 to the improved operating profit.

Chr Hansen noted a 19% increase in its operating profit (EBIT) for the period to €83m, compared to €70m in the first half of the previous year.

The Danish company also noted a rise in its H1 2012 revenues by 9% to €333m, compared to the revenues of €304m in H1 2011.

The revenues of the company's Cultures & Enzymes Division in the first half of fiscal 2012 amounted to €198m, up 8% compared to the same period last year, while the revenues of Health & Nutrition Division and Natural Colors Division increased by 18% and 8% respectively.

For the second quarter of fiscal 2012, the natural colours, enzymes and cultures specialist reported a net profit of €30.4m, an increase of 24% compared to €24.5m in the same quarter a year ago.

Its revenues for the quarter rose by 7% to €165m in Q2 of fiscal 2012, compared to €154.3m in the second quarter of fiscal 2011.

Chr Hansen CEO Lars Frederiksen said the solid sales and earnings growth continued during Q2 2012 and the company delivered 11% organic growth for the first half of the fiscal and a 19% increase in EBIT.

"Based on the solid performance in the first half we have narrowed our organic growth target from 7-10% to 8-10% (excluding carmine price effect)," Frederiksen added.

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