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.
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.
Danisco’s revenue target is now “around DKK15bn” compared to “more than DKK14.5bn”.
For the full earnings statement, click here.