Hafslund Nycomed's 1st Half As Expected

Norway's Hafslund Nycomed posted revenues of 3.5 billion Norwegian kroner ($508.43 million) in the first six months of 1994, up 11.1%. Sales in the second quarter were 1.8 billion kroner. Operating profit in the first half was 728 million kroner, down 1.75%, while in the second quarter operating profit was 401 million kroner.

Nycomed Imaging posted revenues slightly down (-5.2%) in the first six months, and operating profits also declined 8.68% to 736 million kroner. Pharmaceutical sales were ahead 6.8% to 1.65 billion kroner and operating profits were 305 million kroner, up 26.5%.

Analysts at Goldman Sachs International said that results were in line with their expectations for the company, but were surprised at the increase in pharmaceutical operating profit, which was attributed by the company to the benefits of a cost-cutting program.