Norway's Hofseth Biocare sees stronger results ahead as it enters commercial phase -CEO

Hofseth Biocare ASA

10/10/2017 14:10

OSLO, Oct 10 (Reuters) - Norwegian biotech firm Hofseth 
Biocare  HOFBC.OL  expects to report stronger results ahead as 
it enters a new commercial phase, its chief executive officer 
told Reuters, after reporting higher preliminary figures for the 
third quarter on Tuesday. 
    The firm, which produces health products and nutrients based 
on bio marine ingredients such as salmon, expects to report 
revenues of around 28 million crowns ($3.52 million) in the 
third quarter, up from 3.6 million at the same time a year ago. 
 urn:newsml:reuters.com:*:nRSD6SQmsQ 
    "We'll continue. It's not just one quarter with strong 
growth. Now, we have entered the commercial phase," chief 
executive officer Roger Hofseth said in an interview.  
    "Things have been up and running for the past month after 
many years with research and development," he said.  
    Hofseth added that he saw the United States and Asia where 
the markets saw the biggest growth potential first.  
    Shares in Hofseth Biocare were up 14.5 percent at 1307 GMT 
jumped to their highest levels since July at 1.65 crowns, 
outperforming a 0.2 percent rise in the Oslo Benchmark index 
 .OSEBX.OL . 
($1 = 7.9531 Norwegian crowns) 
 
 (Reporting by Henrik Stolen, editing by Gwladys Fouche) 
 ((henrik.stolen@thomsonreuters.com; +47 952 79 474; Reuters 
Messaging: henrik.stolen.thomsonreuters.com@reuters.net)) 
 
Keywords: HOFSETH BIOCARE PRELIMINARY RESULTS/