Denmark-based food ingredients giant Danisco today (21 September) pushed up its full-year earnings and sales targets after a “solid” start to its financial year.
The company posted net profit of DKK402m (US$70.9m) for the three months to 31 July, up from DKK306m a year earlier.
Go deeper with GlobalData
Danisco’s EBIT for its fiscal first quarter stood at DKK671m, against DKK524m a year earlier. The company’s EBIT before its Bio Chemicals Projects was DKK687m, compared to DKK537m a year ago.
Danisco’s revenue reached DKK3.9bn, up 13% on the year, thanks to a boost from foreign exchange. Sales were up 5% on an organic basis.
For the full fiscal year, Danisco expects net profit of DKK1.2bn, an improvement on a earlier target of DKK1bn.
The company is targeting EBIT before its Bio Chemicals Projects of DKK2.1-2.2bn, compared to an earlier forecast of “around” DKK2bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDanisco’s revenue target is now “around DKK15bn” compared to “more than DKK14.5bn”.
For the full earnings statement, click here.
