Trade Resources Company News "Solid" Q3 Has LED Denmark-Based Food Ingredients Firm Chr. Hansen to Raise Its Forecasts

"Solid" Q3 Has LED Denmark-Based Food Ingredients Firm Chr. Hansen to Raise Its Forecasts

A "solid" third quarter has led Denmark-based food ingredients firm Chr. Hansen to raise its forecasts for annual sales and EBIT margins.

Chr. Hansen said today (4 July) it expects its sales to increase by 9-11% on an organic basis and excluding the impact of the price of carmine, a colour used in food products. In April, it forecast an 8-10% increase in organic sales.

The company, which makes ingredients for use in dairy, confectionery and meat products, also said it sees its annual EBIT margin to be between 26.5% and 27%, up from its April forecast of "above" 26%.

Chr. Hansen reported an 18.9% increase in EBIT for its third quarter, which ran until the end of May. Net profit was up 13.9%. Revenue rose 6.7%.

Source: http://www.just-food.com/news/solid-q3-leads-chr-hansen-to-up-forecasts_id119670.aspx
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"Solid" Q3 Leads Chr. Hansen to Up Forecasts