Roche 1st Half Net Profit Fell Despite Higher Sales; Backs 2021 Outlook
22 July 2021 - 4:03PM
Dow Jones News
By Cecilia Butini
Roche Holding AG said Thursday that profit for the first half of
the year decreased though sales grew, driven by the diagnostics
division.
The Swiss pharmaceutical major posted net profit for the period
of 7.80 billion Swiss francs ($8.50 billion), compared with CHF8.08
billion a year earlier, on sales that rose to CHF30.71 billion from
CHF29.28 billion.
Operating profit was CHF10.08 billion, down from CHF10.64
billion the previous year.
Sales in the diagnostics division grew 51% due to high demand
for Covid-19 tests and strong momentum in routine testing, the
company said.
The pharmaceutical division, on the other hand, saw a decline in
sales of 3% in the first half, having taken a hit from the pandemic
in the first quarter followed by some growth in the second, Roche
said.
Roche confirmed its outlook for the full year, saying that it
expects sales growth in the low-to-mid-single-digits range at
constant exchange rates, and core earnings per share growth broadly
in line with sales. It added that it expects to increase its
dividend in Swiss francs further.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 22, 2021 01:48 ET (05:48 GMT)
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