Lundbeck drops despite posting strong first-half results

8 August 2018

Danish CNS specialist Lundbeck (LUND: CO) saw its shares fall as much as 10% early this morning, after reporting what appear to be strong financial results for first-half 2018, that beat analysts’ expectations but which nevertheless failed to impress investors.

Revenue for the six months reached 9,288 million Danish kroner ($1.45 billion) of representing an increase of 9% (14% in local currencies) compared to the same period in 2017

Earnings before interest and tax (EBIT) increased significantly and reached 3,006 million kroner and the EBIT margin reached 32.4% compared to 24.3% in 2017. Earnings per share (EPS) grew 83% to 11.07 kroner in the period compared to 6.05 kroner the year before

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