Arseus H1 profit beats expectations led by drug ingredients

BRUSSELS Fri Aug 2, 2013 1:46am EDT

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BRUSSELS Aug 2 (Reuters) - Belgian medical equipment maker Arseus posted better-than-expected core profit in the first half of 2013, led by a surge in profitability at its Fagron unit which sells medical ingredients to pharmacies.

Recurring core profit (REBITDA) rose 29.9 percent in the first-half of 2013 to 50.4 million euros ($66.70 million), it said on Friday. That was better than the 45 million euros expected in a Reuters consensus.

It said that for 2013 it expected healthy organic growth with profitability growing faster than turnover. ($1 = 0.7557 euros) (Reporting by Robert-Jan Bartunek)

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