Danisco: lifts targets after strong Q4

Copenhagen / DK. (das) Based on a solid and better-than-expected performance in Q4 2009/2010, Danisco A/S now upgrades group revenue for FY 2009/2010 to around 13,65 billion DKK against the previous expectation of around 13,4 billion DKK which the company announced in its Q3 release. This is the result of good volumes and a stable pricing environment both in food ingredients and industrial enzymes, the company said in a stock exchange announcement. Furthermore, the company has experienced an attractive product mix and strong plant utilisation, and it therefore expects Ebit of at least 1,7 billion DKK. This corresponds to an earnings upgrade of over 100 million DKK compared to our previous outlook and reflects an Ebit margin (before Bio Chemical Projects) of at least 12,8 percent. The momentum in profitability means that Danisco has already met its financial milestone of 12,5 percent in Ebit margin (before Bio Chemicals Projects) in FY 2009/10. The company will release its full annual report for 2009/10, including management outlook for the coming financial year, on 22 June 2010.

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