Net Profits At Bayer Improve 13.5% In 1996

The Bayer group of Germany has announced that pretax profits for 1996grew 6.7% to 4.46 billion Deutschemarks ($7.59 billion). Net profits for the year were 2.75 billion marks, an increase of 13.5%. Earnings per share rose from 3.40 marks in 1995 to 3.85 marks, with a 1996 average of 708 million shares. Group annual sales were 48.61 billion marks, up 9%.

Group capital expenditure was 3.78 billion marks, compared with 3.2 billion marks a year earlier. R&D spending was 3.6 billion marks, a rise of 10.7%, and during the year the group spent 1.43 billion marks on acquistions.

At the parent company, Bayer AG, turnover in 1996 grew 0.9% to 18.19 billion marks. Net income rose 17.5% to 1.36 billion marks.