UPDATE 1-Denmark's Coloplast to pay special dividend, shares jump
(Recasts with special dividend)
* Coloplast Q2 EBIT 859 mln DKK vs avg forecast 882 mln
* Keeps full year outlook unchanged
* Says to pay extraordinary dividend
* Shares rise 4.7 percent
COPENHAGEN, April 30 (Reuters) - Shares in Danish healthcare product maker Coloplast jumped almost 5 percent on Tuesday after it announced a one-off dividend, rewarding shareholders after quarterly earnings grew in all of its business units.
Coloplast, which makes products ranging from urine bags to wound dressings, reported a smaller than expected 12 percent increase in second-quarter profit but stood by its full-year earnings guidance.
The company said it would pay out a special dividend of 634 million Danish crowns ($111.38 million).
Its shares were up 4.7 percent at 1001 GMT, outperforming a 0.3 percent rise in the Copenhagen stock exchange's benchmark index
Earnings before interest and tax (EBIT) rose to 859 million Danish crowns ($151 million), below the average forecast of 882 million in a Reuters poll of analysts, as research and development costs grew 26 percent.
Revenue rose 6 percent to 2.84 billion crowns, in line with forecasts and aided by rising sales in its four business areas, including Wound and Skin Care, which had fared worse than others in the past. Sales in emerging markets helped drive the growth.
"It is a strong result ... aided especially by 7 percent organic revenue growth in Wound and Skin Care," said Sydbank analyst Soren Hansen.
Coloplast said it still expected an operating margin - a measure of profitability - of between 31 and 32 percent in the 2012/13 financial year, at constant exchange rates and in Danish crowns. The margin was 30 percent in the second quarter.
It kept its forecast of organic revenue growth unchanged at 6-7 percent.
The company's financial year begins in October. ($1 = 5.6921 Danish crowns) (Reporting by Mette Fraende; Editing by Tom Pfeiffer)
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Thai PM calls snap election, protesters press on
- Billy Joel, Shirley MacLaine feted at Kennedy Center Honors
- Singapore hit by rare outbreak of rioting, 27 arrested |