Chr. Hansen realized strong organic revenue growth of 10 percent in the first half of 2016-17.

“With a solid performance in the first half of 2016-17, we are well positioned to deliver on our ambitions for the year,” said CEO Cees de Jong. “We are pleased with the progress of our long-term growth initiatives and especially with the continued strong growth and momentum in bioprotection. … it is encouraging to see the skilled and timely execution of the capacity expansion for dairy cultures in Copenhagen.”

For fiscal year 2016-17, Chr. Hansen saw revenue of EUR501 million (US$531 million), compared with EUR443 million (US$470 million) in 2015-16, corresponding to organic growth of 10 percent.

Profit for the 2016-17 period was EUR98 million, compared with EUR76 million in 2015-16.

Free cash flow before special items and acquisitions was EUR30 million, compared with EUR16 million in 2015-16.

For the second quarter of 2016-17, revenue was EUR259 million, compared with EUR229 million the same period the previous year, corresponding to organic growth of 9 percent.

Profit for the second quarter was EUR51 million, compared with EUR37 million the previous year.

Free cash flow before special items and acquisitions was EUR49 million compared with EUR33 million the previous year.

The outlook for 2016-17 is unchanged from the announcement on January 11.