Chr. Hansen: beats organic growth expectations
(CercleFinance.com) - Danish food ingredient maker Chr.
Hansen reported better-than-expected third-quarter organic growth on Thursday, and said that it would explore a potentiel sale of its natural colors business.
Organic revenue growth reached 7% in the past quarter, with a pick-up in momentum from the first half of its fiscal year, the group said. This number also exceeds the consensus of 6%.
The company said third-quarter operating profit before special items rose by 5% to 97 million euros, against the consensus of 96 million euros.
The group is not changing its full-year outlook for organic growth and EBIT.
Noting that its natural colors unit does not share the microbial and fermentation technology platforms, Chr. Hansen said strategic options for the future of this division will be explored, including a potential sale of the business.
Its shares were up 0.5% on the news.
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