UCB first-half 2012 results miss expectations, hit by costs
Belgian drugmaker UCB posted first-half 2012 financial results, showing that underlying profitability -recurring EBITDA - plunged 22% to 347 million euros ($429.2 million), reflecting an increase in revenue contrasted by higher operating expenses.
The decline was greater than the 11% fall expected on average by average by nine banks and brokerages polled by Reuters. Core earnings per share were 1.09 euros versus 1.44 euros in the first half 2011. Revenue in the first six months of 2012 increased by 2% to 1.71 billion euros. Net sales rose by the same amount to 1.53 billion euros (-2% at constant exchange rates).
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