2/1/2012 1:15 AM ET
(RTTNews) - Pharma giant Roche Holding AG (RHHBY.PK: News ) posted higher net income of CHF 9.54 billion for the full year compared with last year's CHF 8.89 billion, mainly due to the good operating performance, lower financing costs and a lower tax rate, advancing 26% on a currency adjusted basis to 9.5 billion Swiss francs; while core earnings per share slipped to CHF 12.30 from CHF 12.78 a year earlier.
Excluding non-core items like global restructuring charges and amortisation and impairment of intangible assets, core earnings per share rose by 11% in constant currencies.
Group sales decreased to CHF 42.53 billion from CHF 47.47 billion in the earlier year period, whereas it increased by 1% in constant currencies.
Roche anticipates low to mid-single-digit sales growth at constant exchange rates for the Group and the Pharmaceuticals Division in 2012. Pharma sales growth is expected to accelerate, driven by the strength of its established product portfolio as well as planned new product launches, while Diagnostics Division sales are expected to again outpace the market.
Based on the expected sales growth and continued efficiency improvements, Roche targets for a high single-digit increase in core earnings per share at constant exchange rates.
Further, the board proposes a 3% increase in its dividend for 2011 to 6.80 Swiss francs per share and non-voting equity security, also recommending the re-election of Franz Humer, André Hoffmann and Professor Sir John Bell at the Annual General Meeting.
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by RTT Staff Writer
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