Børsens News Service in English
Novo close to record after upward revision
05-08-2010
11:45
Novo Nordisk's shareholders have been watching the value of their investments rise after today's upward adjustment. On initial morning trading, the Danish pharma giant’s share value stood close to a record level.
The company’s share price rose 2.5 percent to 514.5 - just a kroner from the record set in 21 June last year - before dropping back on late morning trading.
Although the stock market already had high hopes for Novo, today's half yearly results – which detailed unexpected sales growth around the globe – exceeded most analysts’ expectations
The company increased operating profit by 19 percent in the first half of 2010. Sales increased by 14 percent in Danish kroner and by 11 percent in local currencies. The company’s gross margin improved by 0.6 percentage points in Danish kroner to 80.5 percent, while net profit increased by 21 percent to DKK 6,872 million.
As a result, sales growth guidance for 2010 was increased to 9-10 percent and operating profit guidance increased to 12-15 percent.
"My expectations were high and I predicted an upward revision, but the results are better than I expected" Novo analyst, Rune Dahl Majlund from Sydbank told the Direkt news agency
The company’s share price rose 2.5 percent to 514.5 - just a kroner from the record set in 21 June last year - before dropping back on late morning trading.
Although the stock market already had high hopes for Novo, today's half yearly results – which detailed unexpected sales growth around the globe – exceeded most analysts’ expectations
The company increased operating profit by 19 percent in the first half of 2010. Sales increased by 14 percent in Danish kroner and by 11 percent in local currencies. The company’s gross margin improved by 0.6 percentage points in Danish kroner to 80.5 percent, while net profit increased by 21 percent to DKK 6,872 million.
As a result, sales growth guidance for 2010 was increased to 9-10 percent and operating profit guidance increased to 12-15 percent.
"My expectations were high and I predicted an upward revision, but the results are better than I expected" Novo analyst, Rune Dahl Majlund from Sydbank told the Direkt news agency
*****||*****Novo close to record after upward revision*****||*****Novo Nordisk's shareholders have been watching the value of their investments rise after today's upward adjustment. On initial morning trading, the Danish pharma giant’s share value stood close to a record level.*****||*****
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