Strong financial results in second quarter encouraging, company says
Global bioscience company Chr. Hansen has adjusted its outlook for its 2015-16 fiscal year after encouraging second quarter results.
The company saw strong organic revenue growth in the first half of 2015-16 of 13 percent.
During the first half of 2015-16, Chr. Hansen was positively affected by the strong U.S. dollar, while the negative impact from inflation in certain countries was partly offset by the use of euro-based pricing.
“The results in the first half of 2015-16 were encouraging, with strong growth in Food Cultures & Enzymes and Natural Colors and strong improvements in the profitability for both divisions. The modest growth in Health & Nutrition was anticipated and we expect to see higher growth for the division in the second half of the year,” said CEO Cees de Jong.
“During the second quarter we closed the acquisition of NPC, and we commenced the integration of the two companies to ensure we realize the strong potential of the combined business in the coming years,” de Jong said.
Based on the results for the first half of the year, the company is raising expectations for organic revenue growth to 10-12 percent from 9-11 percent.