US sales drive Lundbeck's 1st-half revenue growth

24 August 2016

Danish CNS specialist Lundbeck (LUN: C) saw its shares rise 3.3% to 286.20 Danish kroner in early trading, after it posted financial results that beat expectations.

Revenue for the first half of 2016 reached 7.52 billion kroner ($1.14 billion), representing an increase of 5% in both reported and local currencies compared to the same period last year.

The earnings before interest and taxes (EBIT)-margin reached 12.7% compared to a negative margin of 67.6% in the same period in 2015. In 2015, EBIT included an impairment loss of 4.8 billion kroner. Reported EBIT for the half-year came in at 952 million kroner compared with a loss of 4.86 billion kroner.

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