Chr Hansen 2022/23 guidance drives shares to top of STOXX

Chr Hansen Holding A/S

12/10/2022 08:38

** Shares in Chr Hansen  CHRH.CO  jump 11% after the Danish
food ingredients maker reports slightly better-than-expected Q4
results and announces consensus-beating 2022/23 revenue guidance
 urn:newsml:reuters.com:*:nFWN31D00T
    ** The company sees full-year revenue growth in the range of
7-10% and expects revenue to be positively impacted by about 5%
from exchange rates
    ** It forecasts EBIT to grow faster than revenue, and EBIT
margin before special items to be in range of 27.0%-28.0%
    ** J.P. Morgan notes Chr Hansen's growth guidance is 6.6%
ahead of consensus, while adj. EBIT margins outlook meets market
expectations and beats JPM's own estimate
    ** "We expect share price support on the result," the
brokerage says 
    ** It adds the quarter should reassure along with
management's FY23 guidance, though remains cautious on the
pricing and demand environment
    ** Shares of Chr Hansen are on track for their best day in
10 years and jump to the top of STOXX 600 index  .STOXX 
    ** Shares in Danish peer Novozymes  NZYMb.CO  rise 3.4% in
Wednesday's morning trade
 (Reporting by Agnieszka Gosciak-Rabalska)
 ((agnieszka.gosciak@thomsonreuters.com))