Sanofi-Aventis is optimistic after strong third quarter

0 Comments | AFP, November, 2005

PARIS (AFP) — French healthcare group Sanofi-Aventis announced that net profit in the third quarter of the year had risen sharply and that the company was on track to meet its target of a 20-percent rise in earnings per share this year.

The company said that adjusted net profit reached 1.923 billion euros in the three months to September, a rise of 28.7 percent from the same period of 2004 and higher than a consensus forecast from analysts of 1.67-1.72 billion euros.

In late morning trading, the price of Aventis shares was showing a gain of 2.72 percent to 69.75 euros on the Paris stock exchange, while the CAC 40 index of leading shares rose 0.57 percent.

Sales in the third quarter were also higher than expected at 7.20 billion euros and operating profit...