Lonza expects strong growth to 2012

23 October 2007 14:00  [Source: ICIS news]

LONDON (ICIS news)--Lonza expects its annual earnings before interest and tax (EBIT) to grow at percentage rates in the mid-to-high teens until 2012, the Swiss fine chemicals and biopharmaceuticals company said on Tuesday.

 

The company also expected to decrease its tax rate to around 20% for the full year, adding that its 2007 performance would be above guidance based on continuing operations, Lonza said in its third quarter business update.

 

In the first half of 2007, Lonza’s organic fine & performance chemicals segment posted an increase of 9.7% EBIT at Swfr79m ($67m/€47m), as sales rose 6% to Swfr564m.

 

In the third quarter, Lonza said sales growth was driven by business volume, with only a third due to increases in raw materials.

 

Lonza said new cost increases for naturally derived raw materials have impacted margins in hygiene, personal care and preservation businesses.

 

A strategic review of these units would be completed by the end of 2007, it added.

 

($1 = €0.71/Swfr1.17)

By: Mark Watts
+44 20 8652 3214

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