Food ingredients firm Danisco has announced rise in sales in the first half, but the cost of integrating US based biotechnology company Genencor cut its profits.
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Sales for the half, ended 31 October 2005, were DKK10.391bn (US$1.67bn), compared with DKK8.605bn the year before. Profit was DKK545m, compared with DKK727m.
Sales for the second quarter were DKK5.229bn, compared with 4.399bn a year ago, while profit was DKK269m, compared with DKK319m.
The company said it maintained its overall outlook for 2005/06 in spite of rising raw material and energy costs in ingredients and sugar. With 5% organic growth year-to-date the ingredients parts of its business was estimated to have at least maintained its global market share. The same was the case for Genencor with 8% organic growth in the period.
The closure of Genencor’s health care activities has now been completed.
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By GlobalDataGenencor contributed much of the rise in sales, but the fall in profit was mainly due to the cost of its consolidation.
