COPENHAGEN (Reuters) – Danish industrial enzymes maker Novozymes on Wednesday reported slightly stronger than expected first-quarter operating results and maintained its full-year growth outlook.
Earnings before interest and tax for the January-March period came in at 1.134 billion Danish crowns ($167.19 million)above the 1.08 billion average expectation by analysts in a poll compiled by the company.
“Novozymes is delivering stronger than expected results as we had a strong end to the first quarter including some impact from timing of orders,” Chief Executive Ester Baiget said in a statement.
Novozymes reported 5% organic sales growth for the first quarter, driven by stronger sales in its Bioenergy and Agriculture, Animal Health and Nutrition divisions.
The company, whose enzymes are used in making consumer goods from detergents to biofuels confirmed its full-year organic sales growth outlook of between 4% and 7%.
($1 = 6.7826 Danish crowns)
(Reporting by Johannes Birkebaek, editing by Terje Solsvik)
