Novo Nordisk H1 EBIT rises 11 pct, raises outlook

Thu Aug 7, 2008 2:17am EDT
 
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COPENHAGEN, Aug 7 (Reuters) - Denmark's Novo Nordisk (NOVOb.CO), the world's biggest diabetes care company, on Thursday posted an 11 percent rise in first-half operating profit and raised its full-year earnings outlook.

Novo Nordisk posted earnings before interest and taxes (EBIT) of 5.7 billion Danish crowns ($1.18 billion) compared to 5.1 billion in the corresponding months of 2007 and in line with the 5.7 billion crowns seen on average in a Reuters poll.

The company raised its full-year 2008 outlook for operating profit, saying earnings would now grow between 22 and 25 percent, from a previous forecast of slightly more than 20 percent.

The firm sees underlying growth, adjusted for currencies and non-recurring items, growing around 25 percent from close to 25 percent previously.

(Reporting by Kim McLaughlin)

 

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