Akzo 2005 income rises 1.7%, Organon gains
Dutch pharmaceutical and chemicals group Akzo Nobel says that full-year 2005 net income inched up 1.7% year-on-year to 961.0 million euros ($1.15 billion) as it saw growth in all its units, including drugmaker Organon.
The group's total earnings before interest and taxes for the year fell 3% to 1.48 billion euros and R&D expenses reached 834.0 million euros, equal to 6.4% of sales and up 2% from last year. Earnings per share rose 2% to 3.36 euros.
Organon, the firm's pharmaceutical division, returned to topline growth with a 3% increase in revenues to 2.42 billion euros for the year. Operating income grew 51% to 415.0 million euros, despite the settlement of the last law suit for Remeron (mirtazapine) in the USA and an impairment charge of 67.0 million in its pharmaceutical ingredients unit.
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