COPENHAGEN, Oct. 25 (Xinhua) -- Denmark's industrial enzyme manufacturer Novozymes on Thursday posted a operating profit rise in third quarter of 2012 and maintained its 2012 earnings outlook.
In its third quarter financial statement, the company said its earnings before interest and tax in the third-quarter of 2012 was 720 million Danish kroner (125.4 million U.S. dollars), up 14 percent from 631 million kroner for the same period last year.
Operating profit for the first nine months 2012 stood at 2,074 million kroner, up 12 percent compared to the same period last year, the company said.
Novozymes CEO Steen Riisgaard said enzyme sales in areas including household care products and animal feed industries had performed well as anticipated.
However, "sales growth in the bioenergy area remains challenged," owing to reduced ethanol production in the key U.S. market, he added.
"As a consequence, expectations for full-year sales growth have been adjusted, whereas the outlook for earnings and cash flow is unchanged," Riisgaard said.
Novozymes, whose enzymes are used in production of goods such as detergents, animal feeds and biofuels, maintained guidance for operating profit growth of 11 to 14 percent in 2012.
Guidance for sales growth was adjusted down to 3 percent, from a previous 3 to 5 percent, as measured in local currencies, while organic sales growth was adjusted to 4 percent, down from a previous 4 to 6 percent, the company said.
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