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Merck sees Q2 profit rise 69%

Merck sees Q2 profit rise 69%
AP
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First Published: Thu, Jul 29 2010. 11 32 AM IST
Updated: Thu, Jul 29 2010. 11 32 AM IST
Berlin: German drug and chemical maker Merck KGaA says its second-quarter earnings were up 69% led higher by strong increases in revenue at its liquid crystals and chemicals businesses.
Merck said Thursday it earned euro183.4 million ($238 million) in the April-June period, compared with euro108.5 million a year earlier.
Total revenues were up 15.6% to euro2.2 billion from euro1.9 billion.
Merck says revenues from chemicals rose 32% to euro644 million. Revenues from liquid crystals used in flat-screen televisions and computer monitors were up 50 % at euro284 million.
CEO Karl-Ludwig Kley says Merck feels “comfortable” in raising its full-year guidance. It expects to increase total revenues by 21% and operating earnings by 90%.
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First Published: Thu, Jul 29 2010. 11 32 AM IST
More Topics: Germany | Earnings | Merck | Drugs | Company Results |