Merck KGaA sees 2nd-qtr 2010 profits rocket around 70%, with revenues rising 15.6%

30 July 2010

German drugs and liquid crystals marker Merck KGaA posted a spectacular set of second-quarter 2010 results yesterday, beating consensus forecasts and causing a 5.9% rise to 68.08 euros in its share price, after reporting a 69% leap to 183.4 million euros ($235.1 million) in its net profit.

Profit after tax rose 70.1% to 326.2 million euros. Earnings per share were up 69.1% at 0.84 euros, total revenues jumped 15.6% to 2.21 billion euros, and operating results were 76.8% higher at 326.2 million euros.

"The pleasing results of the second quarter ...show that our excellent first quarter was setting the course for the year," said executive board chairman Karl-Ludwig Kley. "Therefore, we feel comfortable to again raise our guidance for 2010 and now expect the Merck Group, including Millipore [the US firm that Merck bought for $7.2 billion; The Pharma Letter March 1], to increase total revenues by 21% and the operating result by 90%," he added.

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