Fresenius raises 2011 outlook after strong first half
9 August 2011 00:00 in Medical Company Financials
Fresenius has raised its earnings outlook for the first half of 2011 after achieving a better-than-expected financial performance during the period.
According to the group's latest fiscal report, sales for the first six months of the year came to around eight billion euros (6.98 billion pounds), up by six percent on a constant currency basis.
The Fresenius Kabi division was highlighted as having experienced particularly strong growth, thanks primarily to its performance in North America and China, while Fresenius Medical Care's merger and acquisition strategy was hailed as a success.
As a result, the group is now predicting that income growth for the year will fall between the 15 and 18 percent range, compared to its previous estimate of 12 to 16 percent.
Ulf Mark Schneider, chief executive officer of Fresenius, said these results show that "our group's double-barrelled growth strategy combining organic growth and acquisitions remains fully intact".
Thus far, the firm is successfully building on its record-breaking performance in 2010, during which it met or exceeded all of its financial targets.
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Story collated for Zenopa by the Adfero News Agency