Schering raises 2005 outlook after better-than-expected second quarter

0 Comments | AFP, July, 2005

BERLIN (AFP) — Schering, the German pharmaceuticals group, is raising its full-year forecasts after a better-than-expected second quarter and a strong first six months.

Schering, the world's leading maker of contraceptives and fertility drugs, said in a statement that net profit had risen by 34 percent to 176 million euros (215 million dollars) in the period from April to June, from a year ago.

That brought bottom-line earnings for the first six months to 320 million euros, up 23 percent year-on-year.

Operating profit grew by 17 percent to 236 million euros in the April-June period. And six-month operating profit was up 12 percent at 466 million euros.

Second-quarter sales rose by eight percent to 1.336 billion euros and revenues in the first half...