Chr Hansen upgrades full year expectations

Chr Hansen upgrades full year expectations

The first half of 2010/11 shows strong growth for Chr. Hansen, leading to an upgrade of expectations to the organic revenue growth from 11-13% to 12-14%.

"The first half of the year has shown the strength of Chr. Hansen with revenue growth of 23%, corresponding to 17% organic growth. All three divisions contributed to the result," says Lars Frederiksen, CEO.

"We continue to see a strong volume growth for our colors and blends division due to an increasing demand for natural colors globally. We also experience a good momentum in dairy cultures for yogurt and cheese and for our products for human and animal health."

The company's revenue in the first half 2010/11 amounted to €315 million ($460.52 million), up 23%.

It reported an organic revenue growth of 17% and Q2 revenue increased by 24% corresponding to organic revenue growth of 19%.

"We saw the strongest organic growth of 24% in Asia Pacific, Africa and Middle East (APMEA). Europe - our largest and most mature region - showed organic growth of 18%," said Lars Frederiksen.

As a consequence of the strong evolution of the business, particularly driven by a global conversion from synthetic to natural colors, the outlook for the financial year 2010/11 is revised upwards.