Novozymes reported a disappointing Q2 15, although currency tailwinds continued to cushion the lacklustre underlying performance. Organic sales growth came down significantly from 8% in Q1 to 1% in Q2 (to DKK3.4bn; +13% in DKK) due to the sluggish show of the Q1 star performers (all in organic terms) - Bioenergy (-4% vs. +8% in Q1) and Agriculture & Feed (-3% vs. +40% in Q1). The bigger segment, Household Care showed a sequential improvement (+2% vs. -2% in Q1), partly due to easier compa
28 Sep 2015
Weak underlying growth drives guidance downgrade
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Weak underlying growth drives guidance downgrade
Novonesis A/S (Novozymes A/S) Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
28 Sep 2015 -
Author:
Jyoti Prakash -
Pages:
3
Novozymes reported a disappointing Q2 15, although currency tailwinds continued to cushion the lacklustre underlying performance. Organic sales growth came down significantly from 8% in Q1 to 1% in Q2 (to DKK3.4bn; +13% in DKK) due to the sluggish show of the Q1 star performers (all in organic terms) - Bioenergy (-4% vs. +8% in Q1) and Agriculture & Feed (-3% vs. +40% in Q1). The bigger segment, Household Care showed a sequential improvement (+2% vs. -2% in Q1), partly due to easier compa