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Novozymes Reports a Rise in Operating Profit; Ups Guidance for Full-Year

3:11 AM MDT | October 28, 2009 | Natasha Alperowicz

Novozymes (Bagsvaerd, Denmark), the global leading producer of industrial enzymes, reported a bigger-than-expected increase in third-quarter operating profit and raised its guidance for the full year. Earnings before interest and tax in the third quarter of 2008 rose 18% to DK455 million ($91 million) on 3% higher sales at DK2.12 billion. Operating profit margin rose to 21.5% compared to 18.7% in the corresponding period of last year. Detergent enzymes accoutned for 32% of Novozymes's third quarter sales, technical enzymes 31%, food enzymes 22%, feed enzymes...

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