Novozymes Earnings Up 4%; CEO Expects Higher Growth for Full Year (update)

Novozymes (Bagsvaerd, Denmark), an enzymes technology firm, has recorded first quarter net profits for the year of DK510 million ($91 million), up 4% compared with the same period one year ago. Corresponding sales increased 2% to DK2.7 billion. Organic sales for the quarter were flat compared with an 8% increase in the year-ago first quarter. Sales in local currencies fell 1% with the year-ago period. Despite the low sales and earnings figures, Novozymes CEO Steen Riisgaard says that the financial results are “in line with expectations” and that it...

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