Danish ingredients giant Danisco today (18 March) upped its sales and earnings targets after posting buoyant third-quarter numbers.
The company booked a jump in third-quarter profits thanks to rising earnings from the company's cultures and enablers divisions.
Danisco reported a 66% leap in underlying operating profit to DKK339m (US$62.1m) for the three months to the end of January.
Operating profit from Danisco's enablers business more than doubled to DKK189m, while earnings from the group's cultures division climbed by 80% to DKK90m.
Danisco booked a quarterly net loss of DKK354m, compared to a net loss of DKK698 in the third quarter of 2008/09.
Turnover, meanwhile, reached DKK3.3bn, a rise of 11% on an organic basis.
CEO Tom Knutzen said: "We continued to see a positive earnings momentum during the quarter and are encouraged by the results that we have achieved this financial year, including our ability to lift our earnings outlook once more."
Danisco's revenue outlook now stands at DKK13.4bn against a previous target of DKK13.25bn. The company's EBIT forecast after biochemical project (BCP) costs is DKK1.6bn compared to the group's former target of DKK1.45-1.5bn.
The group added that it also now expects a net profit for the 2009/10 year of around DKK300m, against a previous target of DKK200m.
Sectors: Commodities & ingredients
Companies: Danisco
View next/previous articles
18 Mar 2010 -
Currently reading -
DENMARK: Danisco ups targets after Q3 results
18 Mar 2010 -
17 Mar 2010 -
Related research
Datamonitor's Danisco A/S - SWOT Analysis company profile is the essential source for top-level company data and information. Danisco A/S - SWOT Analysis examines the company’s key business structure and operations, history and products, and provides...
Premium Company Profile: Danisco A/S
Danisco, a producer of food ingredients, sugar and industrial bio-products, has a dominant global market position that has been boosted over the years through both organic and inorganic growth. The company has strengthened its competitive position by...
Datamonitor's Danisco - SWOT Analysis company profile is the essential source for top-level company data and information....
Related articles
DENMARK: Danisco transforms sustainability strategy
Denmark-based ingredients group Danisco has set out its sustainability strategies for the future in its 9th annual sustainability report.
DENMARK: Overseas markets boost Danisco profits
Denmark-based ingredients group Danisco has booked an increase in full-year profits, boosted by strong performances in North America and Asia Pacific.
DENMARK: Danisco lifts targets after "strong" Q4
Denmark-based ingredients group Danisco today (6 May) pushed up its sales and earnings targets after reporting a "strong" fourth quarter for the business.
There are currently no comments on this article
Be the first to comment on this article