Roche sees strong 2012 performance in USA but slowdown in Europe
Swiss drug major Roche (ROG: SIX) has reported 2012 financial results with 4% growth in group sales to 45.5 billion Swiss francs ($49.29 billion), slightly more than analysts expectations of 45.3 billion francs. However, while sales in the USA - by far Roche’s largest market - grew 7%, its European business declined 2%. Roche shares dipped 1.5% to 202.770 francs in early morning trading in Zurich yesterday.
Core operating profit was 17.2 billion francs and core operating profit margin rose 2.1 percentage points to 37.7%. Net income came in at 9.77 billion francs, or 13.62 francs per share (+10%), which was shy of the 13.67 francs expectations of 24 analysts polled by Bloomberg.
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