Earnings before tax up 20% and sales up 6%
Swiss multinational, chemicals and biotechnology company Lonza has reported its best ever financial results for the first half of 2016.
The company, which develops personal care actives such as Biodynes, Lonzest and Laraquat, said its speciality ingredients department delivered “strong and improved” results with earnings before tax up 20% on the same period last year.
Richard Ridinger, CEO of Lonza, said: “We are harvesting the fruits of our diligence in implementing productivity programs, as well as the stringent portfolio management activities in speciality ingredients and the favourable market environment.”
Earnings before tax reached CHF 312m as sales overall were up 6%. Lonza says that its speciality ingredients sector saw “a positive uptake”. This follows a trend at the company, which has seen double-digit growth in this area for the previous four years.
Lonza said that its Consumer Care division specifically improved as its portfolio saw an increased number of high-value products. It said: “The profitability improved further due to a better mix and above-average growth in higher-margin businesses.”
Ridinger added: “These strong half-year results have pushed us to an intermediate sprint towards our ambitious targets and have made us very confident that we will reach our mid-term goals.”