Chr. Hansen posted €30.4 million (US$39.8 million) in net profit in the company's second quarter ending February 29, an increase from the €24.5 million (US$32.1 million) earned in the second quarter of the 2010/2011 fiscal year, according to Chr. Hansen's latest financial report.
The company saw organic growth in both its cultures and enzymes division (9 percent) and its health and nutrition division (11 percent) in the second quarter, but saw a drop in its natural colors division (3 percent). Revenue growth was greatest in South America, at 21 percent organic growth, while North America saw 14 percent growth; Asia, the Pacific, the Middle East and Africa saw 4 percent growth; and Europe remained fairly flat at 1 percent growth in the second quarter.
For the first half of the fiscal year, Chr. Hansen posted a net profit of €57 million (US$74.8 million) compared to 2010/2011's €48 million (US$63 million). "Based on the solid performance in the first half we have narrowed our organic growth target from 7–10 percent to 8–10 percent (excluding carmine price effect)," said CEO Lars Frederiksen. "The organic growth target including carmine price effect has been adjusted from 5–8 percent to 5–7 percent to reflect lower raw material prices for carmine. The profitability is still expected to improve compared to last year."