Chr. Hansen posts ‘strong’ H1 with organic revenue growth of 10%

Chr. Hansen posts ‘strong’ H1 with organic revenue growth of 10%

Food and nutrition bioscience firm Chr. Hansen says it is well positioned to deliver its ambitious full year targets, as it reports 10% organic revenue growth for the first half of its financial year.

The Danish firm, known for its portfolio of cultures, enzymes, probiotics and natural colours, said revenue of €501 million in the first half of its current financial year is 10% higher than the €443 million seen in the same period in the previous year.

With a solid performance in the first half of 2016/17, we are well positioned to deliver on our ambitions for the year,” said CEO Cees de Jong.

He commented that the firms’ Food Cultures & Enzymes and Natural Colours divisions delivered strong organic growth and improved profitability. This was despite the financial impacts of a change in management in Food Cultures & Enzymes in Q2.

Revenue growth for Food Cultures & Enzymes, Health & Nutrition, and Natural Colours was reported at 9%, 10% and 11% respectively.

“With 13% organic growth in Q2, Health & Nutrition is now delivering growth in line with our long-term ambitions for this business area,” added de Jong. “However, the EBIT margin in Health & Nutrition is still below the level of last year, partly due to continued investments in R&D.”

The CEO said Chr Hansen is pleased with progress of long term growth initiatives – especially the technological progress in the human microbiome.

The company confirmed that it’s outlook for full year is unchanged, with revenue growth of between 8-10% expected, and a slight increase in EBIT margin.

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