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Lonza Reports Fall in First-Half Profits and Sales
1:31 AM MDT | July 27, 2011 | Deepti Ramesh
Lonza has recorded a 28% fall in first-half profits compared with the year-ago period, to SF97 million ($120 million), and Ebitda decreased by 14%, to SF265 million. Sales decreased 8%, to SF1.19 billion, mainly due to the negative currency exchange rate, Lonza says. “Despite the heavy hit we have taken in our reported numbers as a result of the strong Swiss franc, I am pleased that the company has delivered 5% growth in underlying revenues and operating profits,” says Stefan Borgas, CEO of Lonza. “Looking forward, our pipeline looks promising...
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