Lonza Q1 within expectations; eyes 10% growth in full-year EBIT

25 April 2013 07:08  [Source: ICIS news]

SINGAPORE (ICIS)--Swiss chemicals maker Lonza said on Thursday its first-quarter business performance was “solid and in line with expectations”, as it reiterated its 2013 target of a 10% growth in operating profit.

Its specialty ingredients segment had a “good performance”, but its pharmaceutical and biotechnology operations had a slow start, which was expected, the company said in a statement.

“Overall results for the first quarter as well as Lonza’s reorganization and improvement projects are on track,” the company said.

“Looking forward, it is expected that the second half of 2013 will be stronger than the first half … and Lonza reiterates its 2013 EBIT [earnings before interest and taxation] guidance growth of approximately 10%,” it said.

By: Pearl Bantillo
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