Roche's 1996 Sales Ahead Of Expectations

Hoffmann-La Roche was expected to reveal strong sales growth last week,but the 16 billion Swiss francs ($11.62 billion) announced was ahead of most analysts' expectations, resulting in an upward movement for the company's shares. Compared with 1995, turnover was 11% higher in Swiss francs terms (fuelled by the depreciation of the currency) and up 8% in local currencies.

No figures for earnings are given at this stage, but Roche pointed out that capacity utilization at existing production facilities continued to rise, coupled with steady gains in efficiency, which contributed to yet another improvement in the group's operating results. It also said that it expects to see consolidated net income increase once again.

Significant volume gains were noted, and Roche expanded its position in important sectors and markets despite sustained pricing pressures, it said. Sales of the group's leading products continued to show positive growth, and new entries were well received in the marketplace.