Coloplast H1 operating profit 493 mln dkr, slightly below consensus |
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Published
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Tue, 15 May 2007 13:01
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COPENHAGEN (Thomson Financial) - Danish health care group Coloplast posted an operating profit of 493 mln dkr for the first six months of the financial year 2006/2007, down 10 pct from a year earlier and negatively affected by integration costs for recently acquired urology business Mentor.Market expectations were for an operating profit of 498 mln dkr, according to a survey of analysts from RB Boersen.Sales increased 28 pct to 3.913 bln dkr, versus expectations for 3.892 bln dkr.The group's pretax profit increased 1 pct to 424 mln dkr.Coloplast said it maintains its previous full year expectations for sales growth of 22 pct in local currencies and organic growth of 9 pct.The recently acquired urology business Mentor was a main driver of the increase in sales, as it added a 20 pct sales growth in local currencies, Coloplast said, adding that organic sales growth amounted to 10 pct in local currencies.The decline in operating profit from a year earlier was caused by costs attributable to acquisitions and restructuring amounting to 182 mln dkr, of which 159 mln dkr are directly due to the acquisition of the urology business, said Coloplast.gustav.sandstrom@thomson.comgs/gpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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