UCB: shares down despite better than expected results
(CercleFinance.com) - Belgian pharmaceutical group UCB reported better-than-expected full-year earnings on Thursday, but its shares fell on Euronext Amsterdam.
The company's revenue rose by 2% to 4.63 billion euros last year, with gross profit up at 3.43 billion euros, reflecting a higher gross margin of 74.1%, from 73.5% a year ago.
However, operating expenses also rose, reaching 2.33 billion euros, due to higher marketing and selling costs.
UCB said that it expects 2019 revenue in the range of 4.6 billion to 4.7 billion euros.
The stock dropped by 5.5% at 72.8 euros after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company's revenue rose by 2% to 4.63 billion euros last year, with gross profit up at 3.43 billion euros, reflecting a higher gross margin of 74.1%, from 73.5% a year ago.
However, operating expenses also rose, reaching 2.33 billion euros, due to higher marketing and selling costs.
UCB said that it expects 2019 revenue in the range of 4.6 billion to 4.7 billion euros.
The stock dropped by 5.5% at 72.8 euros after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.