-Danish Auriga reports 22% Y/Y net profit decline in Q2 2011.
NORDIC BUSINESS REPORT-August 25, 2011--Danish Auriga reports 22% Y/Y net profit decline in Q2 2011(C)2011 M2 COMMUNICATIONS http://www.m2.com
25 August 2011 - Danish agrochemical group Auriga Industries A/S (CPH:AURI B) saw its net profit decline 22% on the year to DKK53m in April-June 2011.
Revenue in the second quarter was on par with a year earlier -- at DKK1.575bn -- but production costs rose by DKK49m, bringing the operating profit down to DKK116m against DKK143m.
Auriga's bottom-line result improved to DKK86m in the first half of 2011 from DKK58m in the previous year, as revenue went up 6% to DKK2.968bn.
The financial performance in 2011 so far was in line with the company's expectations and it reiterated its full-year forecast for revenue of some DKK5.8bn, margin on EBITDA of 8-10% and operating profit of DKK300-400m. Operating cash flow is still foreseen to be higher than in 2010.
(EUR1 = DKK7.5)
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|Title Annotation:||Auriga Industries A/S|
|Publication:||Nordic Business Report|
|Article Type:||Financial report|
|Date:||Aug 25, 2011|
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