2008 kicked off with high sales growth, leading to an upwards adjustment in local currencies. Expected sale of enzymes for detergents and feed significantly increased. Despite unfavorable exchange rates, the outlook for net profit 2008 in DKK is maintained.
Earnings development was good in the first quarter, and the developments in energy and raw material prices were in line with expectations. Overall, the financial results in the first quarter were very satisfactory, particularly given the generally unfavorable exchange rate movements.
“The high growth rate is continuing in 2008,” says Steen Riisgaard, President and CEO. “We have not seen, and there is no sign of, a slowdown in sales or earnings. In fact the first quarter was better than expected, so we are increasing our sales expectations for the year. However, the declining dollar is eroding growth and earnings in DKK. It is somewhat frustrating that the underlying business performance does not show in the results in DKK, because things are going really well.”