DOW JONES NEWSWIRES
Danish enzyme maker Novozymes A/S (NZYM-B.KO) Tuesday said it
expects sales and profits to rise in 2014 from the previous year,
as it posted a slightly stronger-than-expected net profit increase
for the fourth quarter and proposed a raised dividend for 2013.
MAIN FACTS:
-Novozymes expects sales growth in Danish kroner of 4%-7% and
Ebit growth of 6%-9% in 2014 from 2013.
-"We expect that our diversified growth platform will enable us
to deliver good sales and Ebit growth," Chief Executive Peder Holk
Nielsen said in a statement.
-"We also expect that The BioAg Alliance [with Monsanto Co.
(MON)] will receive the final green light from regulators soon, so
we can hit the ground running on developing novel, game-changing
BioAg solutions for farmers worldwide," he said.
-Fourth-quarter net profit rose to DKK563 million from DKK493
million, against analysts' expectations for DKK548 million.
-Revenue rose to DKK2.94 billion from DKK2.81 billion, against
expectations for DKK2.95 billion.
-Operating profit rose to DKK703 million from DKK671 million,
against expectations for DKK707 million.
-Novozymes proposes a dividend per share of DKK2.50 for 2013, up
14% from the previous year.
-As previously announced, Novozymes will start a new share
buyback program of up to DKK2 billion. It will be initiated
following the closing of the BioAg Alliance in early 2014 and run
for the remainder of the year.
-Novozymes shares closed Monday at DKK238.30.
Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com
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