Fresenius 1st-qtr profits rise 8%

The kidney dialysis, medical technology and clinics group Fresenius Medical Care (FMC) has boosted first quarter 2006 profits 8% to $116.0 on sales up 9% at $1.7 billion. The company has confirmed its full-year forecasts.

Ben Lipps, head of the FMC board, said results in the quarter had provided a good start to 2006 with the global strategy of the company offering an "excellent basis for further success." Dynamic growth is continuing in North America and Europe which account for over 90% of sales. FMC has completed the sale of 96 dialysis clinics in the USA following the acquisition of its US competitor, Renal Care Group, and nine further clinics will be sold.

The Germany-based Fresenius parent company increased first-quarter sales a third to 2.4 billion euros ($3.03 billion) in the wake of the consolidation of the Helios clinics. Net earnings went up 35%, discounting currency factors, to 65.0 million euros. The group has said it expects sales and profits growth this year to expand some 30%.