Novo Nordisk Q2 Profit Climbs; Lifts FY13 Growth Forecast - Quick Facts

(RTTNews) - Insulin maker Novo Nordisk A/S (NVO) reported Wednesday a 26 percent increase in second-quarter net profit benefited by higher sales. The company also lifted its fiscal 2013 growth forecast.

For the quarter, net income improved to 6.73 billion Danish kroner from 5.35 billion kroner a year ago. Earnings per share grew 29 percent to 12.45 kroner from 9.67 kroner last year.

Sales grew 10 percent to 21.38 billion kroner from 16.47 billion kroner in the prior year.

For the first half, net profit increased 27 percent to 12.7 billion kroner or 23.43 kroner per share. Sales increased 11 percent to 41.4 billion kroner.

Further, for 2013, sales growth measured in local currencies is now expected to be 11 percent-13 percent, whereas operating profit growth measured in local currencies is now expected to be 12 percent-15 percent.

The company previously expected sales growth to be 9 percent -11 percent, and operating profit growth to be around 10 percent -both measured in local currencies.