Roche raises profit outlook after first half-year
Published: Thursday, Jul 25th 2024, 07:40
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After a good first half-year, the pharmaceutical company Roche is raising its profit outlook for the year as a whole.
At CHF 29.9 billion, Group sales remained at the previous year's level. At constant exchange rates, however, it rose by 5 percent.
The Pharmaceuticals Division generated sales of 22.6 billion Swiss francs in the first half of the year, an increase of 1 percent. Roche generated sales of 7.2 billion with its diagnostics (-1%). This smaller division in particular had seen a real boom in coronavirus times due to the tests.
The bottom line was a consolidated profit according to IFRS of 6.7 billion, down 11% on the same period last year. Core operating profit, which is the main focus of analysts, rose by 4 percent to 11.3 billion. Roche attributes the increase in part to a slower appreciation of the Swiss franc.
With the reported figures, Roche slightly exceeded the average analysts' estimates.
With the half-year figures, the pharmaceutical company is raising its previous profit outlook for the year as a whole. At constant exchange rates, the Basel-based company continues to expect a mid-single-digit percentage increase in sales. However, core earnings per share are now expected to increase in the high single-digit percentage range (previously: mid single-digit percentage range). As always, the Group aims to increase the dividend in Swiss francs
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