Coloplast Q1 EBIT narrowly beats forecasts

COPENHAGEN Wed Jan 30, 2013 5:37am EST

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COPENHAGEN Jan 30 (Reuters) - Danish healthcare products maker Coloplast on Wednesday reported first-quarter operating profits just above expectations.

Coloplast said earnings before interest and tax (EBIT) rose 29 percent to 897 million crowns from 693 million in the first quarter a year earlier, narrowly beating forecasts.

The company kept its forecast for organic sales growth at 6-7 percent in local currencies for the 2012/2013 financial year which runs to end-September, but cut growth forecasts in Danish crowns to 5 to 6 percent.

It still expects its operating margin to rise to between 31 and 32 percent, from 30 percent in 2011/12. (Reporting by Johan Ahlander)

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