Raised Astra outlook reflects FX and performance
LONDON, July 31 |
LONDON, July 31 (Reuters) - AstraZeneca Plc's (AZN.L) decision to increase its forecast for full-year earnings by a higher-than-expected 15 cents a share reflects both currency benefits and improved business performance, its finance head said on Thursday.
"About half of the 15-cent increase in guidance reflects the benefit of favourable currency in the second quarter," Simon Lowth told reporters in a post-results conference call.
"The remainder of the increase reflects improved performance in the first half of the year and also our sense of the outlook for the remainder of the year.
"It reflects a combination of improvements across pretty much every line of the P&L -- there is also an important contribution coming from reduced interest charges relative to our original expectations." (Reporting by Ben Hirschler)
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