Danisco Upgrades 2009/10 Guidance After Strong Q4
The momentum in profitability means that Danisci have already met their financial milestone of 12.5% in EBIT margin (before Bio Chemicals Projects) in FY 2009/10.
6 May 2010 --- Based on a solid and better-than-expected performance in Q4 2009/10, Danisco said it is upgrading group revenue for FY 2009/10 to around DKK 13.65 billion against our previous expectation of around DKK 13.4 billion which we announced in our Q3 release (1/2010, 18 March 2010). “This is the result of good volumes and a stable pricing environment both in food ingredients and industrial enzymes, CEO,” Tom Knutzen said in a statement.
“Furthermore, we have experienced an attractive product mix and strong plant utilisation, and we therefore expect EBIT* of at least DKK 1,700 million. This corresponds to an earnings upgrade of over DKK 100 million compared to our previous outlook and reflects an EBIT margin (before Bio Chemical Projects) of at least 12.8%.”
The momentum in profitability means that Danisci have already met their financial milestone of 12.5% in EBIT margin (before Bio Chemicals Projects) in FY 2009/10.
Danisco will release its full annual report for 2009/10, including management outlook for the coming financial year, on 22 June 2010.
