A “solid” third quarter has led Denmark-based food ingredients firm Chr. Hansen to raise its forecasts for annual sales and EBIT margins.
Chr. Hansen said today (4 July) it expects its sales to increase by 9-11% on an organic basis and excluding the impact of the price of carmine, a colour used in food products. In April, it forecast an 8-10% increase in organic sales.
The company, which makes ingredients for use in dairy, confectionery and meat products, also said it sees its annual EBIT margin to be between 26.5% and 27%, up from its April forecast of “above” 26%.
Chr. Hansen reported an 18.9% increase in EBIT for its third quarter, which ran until the end of May. Net profit was up 13.9%. Revenue rose 6.7%.
Shares in Chr. Hansen had climbed 7.48% at 11:25 CET today.