Lonza Reports Fall in First-Half Profits

Lonza has recorded a 33% fall in first-half net profits on a comparable basis, to SF118 million ($110 million), compared to the year-ago period. Sales were down 9%, to SF1.32 billion. Figures for the second quarter were not disclosed. The nature of Lonza’s custom manufacturing business model, along with a slowdown in parts of the Life Science Ingredients business, led to a weaker performance in the first half of 2009, Lonza says. Cost and efficiency improvements, along with lower raw material prices, partly compensated for lower capacity utilization levels...

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