Roche H1 Profit Drops On Lower Revenues
(RTTNews) - Swiss healthcare major Roche Holding AG (RHHBY, RO.SW) reported Thursday lower profit in its first half with weak revenues.
Net earnings attributable to Roche shareholders reached 6.871 billion Swiss francs, representing a 7 percent decline from 7.410 billion francs a year ago. Earnings per share decreased 8 percent to 8.52 francs from 9.23 francs last year.
Core net income attributable to Roche shareholders totaled 8.750 billion francs, compared to 8.90 billion francs a year ago. Core earnings per share declined 2 percent to 10.85 francs from 11.08 francs last year.
Core operating profit reached 11.856 billion francs, down 1 percent year-over-year.
Total revenue decreased 1 percent to 31.452 billion francs from 31.849 billion francs last year. Sales totaled 30.364 billion francs, representing a 2 percent decline in reported currency.
On a constant currency basis, sales increased 6 percent, driven by demand for innovative medicines and diagnostics. Sales grew 8 percent in US dollar terms.
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