January 22, 2010

Novozymes shows strong performance in Q4

Fourth-quarter sales and earnings of enzyme specialist Novozymes had a strong development compared to the same quarter in 2008, resulting in 2009 ending at the higher end of expectations.

Novozymes, the world's leading industrial enzymes maker, posted on Thursday (Jan 21) a bigger rise than expected in fourth-quarter operating profits and forecast higher sales and earnings for 2010 than in 2009.

Operating profit rose to DKK431 million (US$81.4 million) from DKK370 million (US$69.9 million) a year earlier and exceeded a mean forecast in a Reuters poll. 

Expectations for 2010 sales and earnings are both higher compared to 2009. Although the fourth quarter of 2009 had a strong development, there is still uncertainty as to the development of the global economy in 2010.