Chemicals and pharmaceuticals giant Merck KGaA raises full-year forecast


AFP

BERLIN — German chemicals and pharmaceuticals group Merck KGaA raised Tuesday its forecasts for full-year revenues on expected growth in emerging markets after trimming its losses in the second quarter. Shares soared by more than four percent after the group said net losses in the second three months of the year came in at 60.5 million euros (US$74.9 million) compared to 86.8 million euros in the same period last year. Total group revenues were up 11.6 percent to 2.9 billion euros with operating profits, as measured by earnings before interest, tax, depreciation and amortization (EBITDA), up 13 percent to 747 million euros.