"Chr. Hansen reported 10% organic growth for the first nine months of 2011/12 (excluding carmine price effect) and a 19% increase in EBIT. The organic growth (excluding carmine price effect) of 9% in Q3 was slightly better than expected," says CEO Lars Frederiksen.
"The positive momentum in the Cultures & Enzymes Division continued throughout Q3 with organic growth of 9% while the Health & Nutrition Division as expected reported soft organic growth of 6%. The Natural Colors Division reported 10% organic growth (excluding carmine price effect) in Q3, driven by the continued conversion to natural colors in food & beverages.
Based on the continued solid performance in Q3 we have adjusted our expectations, with organic revenue growth now expected at 9-11% (excluding carmine price effect) while the profitability is expected to improve compared to last year with an EBIT margin between 26.5-27.0%," Lars Frederiksen concludes.
As a result of the continued solid performance during Q3 the outlook for 2011/12 has been adjusted:
Please see the interim report for further details.
Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. All solutions are based on strong research and development competencies and significant technology investments. The company enjoys market leadership in all its divisions: Cultures & Enzymes, Health & Nutrition and Natural Colors Division. There are more than 2,450 dedicated employees in over 30 countries.
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