Chr. Hansen Reports Solid Half-Year Performance

HORSHOLM, DenmarkChr. Hansen released its first half of 2011-12 0 financials, reporting solid performance with revenues of 333 million, up 9% compared to first half 2010/11, and 11% organic growth. The company also announced a share buy-back program of up to 80 million to adjust its capital structure by distributing excess capital to the shareholders.

"We are pleased to have continued the solid sales and earnings growth during Q2 2011/12, delivering 11% organic growth for the first half of 2011/12 (excluding carmine price effect) and a 19% increase in EBIT," said Chr. Hansen CEO Lars Frederiksen. All our divisions contributed positively and especially the Cultures & Enzymes Division has proved our resilient business model with strong growth despite the continued uncertainty around probiotic health claims in EU. Based on the solid performance in the first half we have narrowed our organic growth target from 7-10% to 8-10% (excluding carmine price effect)."