ALK-Abelló upgrades its full-year 2016 financial outlook
Denmark-based allergy specialist ALK-Abelló (ALKB: DC) has revised its 2016 financial guidance upwards as the company towards the end of 2016 continued to benefit from the temporary and favorable competitive situation in Southern Europe.
The company, whose shares were up 5.57% at 1,004 Danish kroner in trading this morning, says that:
- Full-year revenue in the base business is now expected to grow organically by around 25% in local currencies (previously: more than 20%). Fourth-quarter growth is expected at approximately 10% (previously: 'low organic growth').
- Total full-year revenue is consequently now estimated at about 3 billion kroner ($425.5 million) compared with the previous forecast of: more than 2.9 billion kroner.
- Full-year earnings before interest, taxes, depreciation and amortization (EBITDA) before special items are now expected to be more than 700 million kroner (previously: more than 650 million kroner).
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