Novo Nordisk beats estimates as net profit grows 4%

Danish diabetes care giant Novo Nordisk (NOV: N) released first-half 2014 financial results this morning, showing that sales increased 7% in local currencies and 1% in Danish kroner to 41.97 billion kroner ($7.57 billion).

Operating profit rose 12% in local currencies and by 4% in Danish kroner to 16.8 billion kroner. Net profit grew 6% to 13.5 billion kroner. Diluted earnings per share increased 9% to 5.09 kroner. Net profit for the second quarter rose 4% to 6.99 billion kroner, beating the 6.88 billion kroner average estimate of 18 analysts surveyed by Bloomberg.

For 2014, the company reiterated its guidance for sales growth measured in local currencies still expected to be 7%-10% and operating profit growth measured in local currencies is still expected at around 10%. Novo Nordisk shares rose 1.2% to 255.70 kroner in early trading.