ZURICH, 25 July Swiss drug industry supplier
Lonza confirmed its profit guidance on Wednesday and
said demand in its key business remained strong despite
The Basel-based group, which in the past has battled
currency headwinds and volatile raw material prices, reported a
3.1 percent decline in first half net profit to 94 million Swiss
francs ($94.59 million). Profit was hit by margin pressure in
its key business of chemical custom manufacturing and the
manufacture of vitamin B.
Sales grew by 64.4 percent to 1.964 billion francs due
chiefly to last year's $1.2 billion acquisition of US biocide
company Arch Chemicals. Analysts polled by Reuters had forecast
a net profit of 68.8 million and sales of 1.762 billion Swiss
francs on average.
($1 = 0.9938 Swiss francs)
(Reporting by Andrew Thompson)