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Bayer sees 58% jump in Q4 net

GERMAN drug and chemical maker Bayer AG reported yesterday a 58-percent jump in fourth quarter net profit despite difficult market conditions, and said that it expected further growth at its health care and crop science divisions in 2009.

The Leverkusen-based company said that net profit increased to 106 million euros (US$135 million) in the October through December period from 67 million euros in the same quarter a year earlier. Sales in the fourth quarter fell 2 percent to 7.9 billion euros from 8 billion euros.

For 2008, the firm posted a 2-percent rise in sales to 32.9 billion euros from 32.4 billion euros a year ago.

Net profit for the full year was lower at 1.7 billion euros in 2008, compared with 4.7 billion euros in 2007.


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