Novozymes reported unsatisfactory Q2 16 results, below both consensus as well as our expectations, primarily on lower than expected sales from the Agriculture & Feed segment. After successive growth in multiple quarters, sales contracted 1% in reported figures to DKK3.4bn following a negative currency impact of 5% (pervasive across all the segments) that more than eclipsed the 4% organic sales expansion. On the positive side, both Household Care and Food & Beverages segments grew mode
06 Oct 2016
BioAg weakens, Household Care and Food & Beverages continue their growth momentum
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BioAg weakens, Household Care and Food & Beverages continue their growth momentum
Novonesis A/S Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
06 Oct 2016 -
Author:
Jyoti Prakash -
Pages:
4
Novozymes reported unsatisfactory Q2 16 results, below both consensus as well as our expectations, primarily on lower than expected sales from the Agriculture & Feed segment. After successive growth in multiple quarters, sales contracted 1% in reported figures to DKK3.4bn following a negative currency impact of 5% (pervasive across all the segments) that more than eclipsed the 4% organic sales expansion. On the positive side, both Household Care and Food & Beverages segments grew mode