Home / Knowledge / News / Textiles / Growth continues for Novozymes
Growth continues for Novozymes
24
Apr '08
2008 kicked off with high sales growth, leading to an upwards adjustment in local currencies. Expected sale of enzymes for detergents and feed significantly increased.

Despite unfavorable exchange rates, the outlook for net profit 2008 in DKK is maintained.

Earnings development was good in the first quarter, and the developments in energy and raw material prices were in line with expectations.

Overall, the financial results in the first quarter were very satisfactory, particularly given the generally unfavorable exchange rate movements.
• Novozymes' sales rose by 11% in local currencies in the first quarter of 2008. Calculated in DKK sales rose by 5% to MDKK 2,026 from MDKK 1,931 in 2007
• Operating profit rose by 4% to MDKK 372 from MDKK 359 in 2007. Adjusted for exchange rate movements, growth was approximately 13%
• The operating profit margin for the quarter was 18.4% against 18.6% in 2007
• Net profit for the period rose by 4% to MDKK 264 against MDKK 254 in 2007
• Earnings per share (diluted) were DKK 4.19 for the first quarter, an increase of 5%
• Free cash flow before acquisitions was MDKK 221 against MDKK 308 in 2007
• Return on invested capital (ROIC) fell to 19.3% from 22.4% in the first quarter of 2007

“The high growth rate is continuing in 2008,” says Steen Riisgaard, President and CEO. “We have not seen, and there is no sign of, a slowdown in sales or earnings.

In fact the first quarter was better than expected, so we are increasing our sales expectations for the year. However, the declining dollar is eroding growth and earnings in DKK.


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search