Germany’s Merck Group Q3 net profit up by 7.5% on strong pharma sales

26 October 2011 08:36  [Source: ICIS news]

SINGAPORE (ICIS)--Merck Group’s net profit rose by 7.5% year on year to €226.6m ($314.7m) in the third quarter of this year in line with solid contributions from its pharmaceuticals divisions and the Merck Millipore life science division, the German pharmaceuticals producer said on Wednesday.

The firm’s overall revenues rose by 3.8% year on year to €2.53bn in the July-September period, while its earnings before interest and tax (EBIT) declined by 8.3% to €333.3m, the company said in a statement.

“The Merck Group produced solid third-quarter revenue growth in a difficult environment, driven mainly by good performances from the Merck Serono and Merck Millipore divisions,” said Karl-Ludwig Kley, chairman of the executive board of Merck Group.

“Net profit rose… on higher revenues as one-time costs from last year were not repeated, leaving us well-positioned as we head into the end of the year,” Kley added.

For the nine-month period ended 30 September, Merck Group’s net profit fell by 17.7% year on year to €481.8m, while its revenues rose by 13.4% to €7.65bn.

Looking ahead, the company is expecting full-year group revenues of about €10bn-10.2bn, with its EBIT expected at around €1bn, the statement added.

($1 = €0.72)

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By: Nurluqman Suratman

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