Novonesis A/S (NVZMF.PK), a seller of industrial enzymes, functional proteins, and microorganisms, Thursday announced a decline in third quarter profit to 138 million euros compared to 155.7 million euros last year. On an adjusted basis, earnings were 192.1 million euros, up from 161.3 million euros in the prior year.
On a per share basis, earnings for the quarter declined to $0.30, from $0.34 in the prior year.
Net sales for the quarter increased to 1.065 billion euros from 1.020 billion euros last year.
For the fourth quarter, the company expects mid-single-digit organic sales growth and for the full year, the company has lifted the organic sales growth to 7-8 percent, up from previous view of 6-8 percent. Excluding the impact of exiting countries in Food and Health Business, the fourth quarter sales would be around 2 percentage points higher.
Excluding the impact of exiting countries, organic sales growth for the year would be 8-9 percent, up from previous outlook of 7-9 percent.
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