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Bayer lifts outlook
Source: Agencies |
April 30, 2010, Friday
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GERMAN chemical and pharmaceutical company Bayer AG yesterday lifted its outlook for 2010 as it reported a 63 percent increase in net profit that was bolstered by improved sales at its plastics unit to manufacturers.
The company, famous for its Bayer aspirin but also a producer of pesticides, plastics and pharmaceuticals, reported a net profit of 693 million euros (US$918 million) in the January-March period compared with 425 million euros a year earlier.
Revenue rose 5.3 percent to 8.3 billion euros in the quarter compared with 7.8 billion euros last year.
The company also raised its forecast for growth in 2010, saying it expects its core adjusted operating profit to beat 7 billion euros.
The company, famous for its Bayer aspirin but also a producer of pesticides, plastics and pharmaceuticals, reported a net profit of 693 million euros (US$918 million) in the January-March period compared with 425 million euros a year earlier.
Revenue rose 5.3 percent to 8.3 billion euros in the quarter compared with 7.8 billion euros last year.
The company also raised its forecast for growth in 2010, saying it expects its core adjusted operating profit to beat 7 billion euros.
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