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Amended: Roche Posts Half-Year Results

Swiss drug maker Roche (RHHBY) Thursday reported a 5 percent decline in its net income for the first half, with 4 percent down slide in sales, after the company witnessed a continued appreciation of the Swiss franc against most currencies during the period.

For the half year, the Group's IFRS net income decreased by 5 percent to 8.5 billion Swiss francs, while it rose 3 percent at constant exchange rates, due to the strong underlying core results.

The Group's core earnings per share slid by 6 percent to 10.44 francs, while it was up 2 percent at constant exchange rates. Core operating profit was down 5 percent at 11.8 billion francs, but it was up 2 percent at constant exchange rates.

For the first half, the Group's sales slid by 4 percent to 29.3 billion francs, while it edged up 1 percent at constant exchange rates.

Looking ahead, the Group said it is confirming its outlook for the full year 2020. It continues to expect sales to grow in the low- to mid-single digit range and core earnings per share to grow broadly in line with sales, both at constant exchange rates. Roche also said it expects to increase its dividend in Swiss francs further.

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