Novozymes, not surprisingly, reported another weak quarter, although slightly better than market expectations, which were tepid at best, thanks to a disappointing Q2 15. In Q3, organic sales were up 3% yoy to DKK3.5bn (better than the 1% seen in Q2, but lower than the 9% recorded in Q3 14) primarily driven by the recovery in Agriculture & Feed (+20% vs. -3% in Q2) and sustained momentum in Food & Beverages (+6%; +4% in Q2), offsetting further sluggishness in Bioenergy (-6% vs. -4% in
23 Nov 2015
Margin benefits temper underlying weakness
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Margin benefits temper underlying weakness
Novonesis A/S (Novozymes A/S) Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
23 Nov 2015 -
Author:
Jyoti Prakash -
Pages:
3
Novozymes, not surprisingly, reported another weak quarter, although slightly better than market expectations, which were tepid at best, thanks to a disappointing Q2 15. In Q3, organic sales were up 3% yoy to DKK3.5bn (better than the 1% seen in Q2, but lower than the 9% recorded in Q3 14) primarily driven by the recovery in Agriculture & Feed (+20% vs. -3% in Q2) and sustained momentum in Food & Beverages (+6%; +4% in Q2), offsetting further sluggishness in Bioenergy (-6% vs. -4% in