Lundbeck 2nd-qtr 2011 beats expectations, as sales rise 9% and net profit grows 21%

Danish CNS drugmaker Lundbeck A/S (LUND: DC) has reported second quarter 2011 revenue of 4.10 billion Danish kroner ($781.3 million), a rise of 9% compared to the same period last year. At constant exchange rates revenue for the quarter increased 13%.

Growth was driven by increasing sales from all key products and geographic regions. Profit from operations was DKK 1.10 billion kroner, increasing 18% and corresponding to an EBIT margin of 26.9%. Operating profit before depreciation and amortization (EBITDA) was 1.25 billion kroner, increasing 4% and corresponding to an EBITDA margin of 30.5%. Net profit increased 21% to 797 million kroner, corresponding to earnings per share of 4.06 kroner.

Ups full year guidance