2007 Bayer's most successful year to date

Werner Wenning, chairman of Germany's Bayer AG, says that 2007 has been the firm's most successful year to date. The company reported that, excluding several special items, its annual earnings before interest, depreciation and amortization grew 21.4% to 6.78 billion euros ($10.23 billion). Revenue for the period increased 11.8% to 32.39 billion euros. In its financial report, the Leverkusen-headquartered company said that it anticipates a further earnings hike in 2008. Full coverage of Bayer's results will appear in next week's Marketletter.