Merck KGaA back in black in third quarter
German pharmaceuticals and chemicals maker Merck KGaA announced Wednesday a return to profit in the third quarter on the strong performance of its pharmaceuticals and diagnostics divisions.
Merck KGaA said in a statement it booked net profit of 226.6 milion euros ($317 million) in the period from July to September.
That represented an increase of 7.5 percent over the year-earlier figure, but a return to profit compared with the second quarter when Merck KGaA booked an after-tax loss of 84 million euros.
Revenues were up 3.8 percent year-on-year at 2.532 billion euros.
"The Merck Group produced solid third-quarter revenue growth in a difficult environment, driven mainly by good performances from the Merck Serono and Merck Millipore divisions," chief executive Karl-Ludwig Kley said.
Nevertheless, the group again downgraded slightly its forecasts for the full year, pencilling in sales growth of 8-10 percent to 10.0-10.2 billion euros, instead of an earlier forecast of 10.0-10.4 billion euros.
© 2011 AFP