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Bayer says fourth-quarter profit narrows

Bayer says fourth-quarter profit narrows

Bayer AG said Thursday that its profit narrowed in the final three months of 2007 even as sales rose. For the full year, the drug and chemical maker's net profit nearly tripled.
The Leverkusen-based maker of Aspirin and other products said its fourth-quarter profit came in at euro67 million (US$100.8 million), down from the euro311 million profit it reported a year earlier _ and below the euro211 million (US$317.4 million) that analysts polled by Dow Jones Newswires had predicted.
Sales rose slightly to euro1.4 billion (US$2.1 billion) from euro1.3 billion.
For the year, the company earned euro4.7 billion (US$7 billion), nearly three times more than the euro1.7 billion it earned in 2006, but still slightly below the euro4.8 billion (US$7.2 billion) that analysts had predicted.
Sales rose to euro32.4 billion (US$48.7 billion) in 2007 compared with euro28.9 billion a year earlier.


Updated : 2021-08-04 17:06 GMT+08:00