(Adds quotes, analyst, share price)
April 6 Danish food ingredients maker Chr.
Hansen posted weaker-than-expected second quarter
results on Thursday, sending its shares as much as 5 percent
lower and making it the second-worst performer in the
FTSEurofirst 300 index.
* The company, which makes enzymes and bacteria for dairy,
wine and meat production, maintained its full-year guidance for
organic revenue growth of 8-10 percent even though some analysts
had expected it to raise the forecast.
* Chr. Hansen has seen prices on basic materials falling in
its colour business, impacting its sales prices, Chief Financial
Officer Soren Westh Lonning told Reuters in a telephone
* "We have experienced incredibly high growth on the Chinese
market, but we expect a slower rate in the future. So we see a
revenue growth of 8-10 percent as the best guidance," Lonning
* The company saw growth of 13 percent in the Health and
Nutrition sector in the second quarter mainly due to some large
U.S. projects, he said.
* "In the United States there is a large focus on finding
natural solutions to reduce the use of antibiotics on poultry,
and we have been lucky to win a share of this market," he said.
* Jyske Bank said it expected a guidance upgrade later this
year as it still believes the current guidance is somewhat
conservative following a strong first half-year (H1) with 10
percent organic growth.
* Sales of bioprotective cultures grew 25 percent in H1
year/year, and there is a huge market for keeping foods fresh
for longer, the CFO said, adding that Danish dairy maker Arla
had expressed interest in the products.
* Second-quarter revenue rose 13 percent to 259.4 million
euros, slightly below the 260 million euros expected by analysts
polled by Reuters.
* Second-quarter EBIT before special items rose 10 percent
to 70.1 million euros, which was 4 percent below Reuters poll
* For the 2016/17 financial year Chr. Hansen still expects
the EBIT margin to increase slightly compared to the year before
and forecasts a free cash flow before acquisitions, divestments
and special items of around 175 million euros.
* The share price fell as much as 5.1 percent in early
trade, and was down 2.1 percent at 444.3 crowns at 0955 GMT.
Source text for Eikon:
Link to Reuters POLL:
Further company coverage:
(Reporting by Julie Astrid Thomsen, editing by Terje Solsvik)