Novonesis rises on strong revenue growth across segments
07/11/2024 08:55
** Shares in Novonesis NSISb.CO , formerly known as
Novozymes, rise around 3% after the Danish biotechnology group
reported Q3 organic sales growth above estimates, saying timing
of customer orders had a positive impact
** Q3 organic sales growth came in at 11%, above the company
compiled consensus of 8.9%, with Planetary Health driving the
beat according to Jefferies
** "Today's report from Novonesis offers a better than
expected performance for all divisions, except Human Health,
which disappoints slightly," Jyske bank analyst Haider Anjum
says in a note
** The Danish group also raised its full-year outlook,
saying it now estimates yearly organic growth at the upper end
of the previously announced range of 7-8%
** J.P.Morgan says today's report will be seen as
"reassuring" after the stock has taken a fall of 12% over the
last month
(Reporting by Tilla Sjaavaag)
((tilla.sjaavaag@thomsonreuters.com))