800-845-6913
Tuteur Law Networks | Knowledge is Power.
February 28, 2008
The German group Bayer said on Thursday that 2007 was its best ever year as a major acquisition in its drugs business paid off and a boom in biofuels boosted the agro-chemicals division.
Net profit almost tripled to 4.7 billion euros (7.1 billion dollars) and operating profit before exceptional items, Bayer’s benchmark for forecasts, rose by 21 percent to 6.8 billion euros, a statement said.
Sales gained 12 percent to 32.4 billion euros, while the company’s profit margin reached 20.9 percent, meaning the maker of Aspirin attained its targets of a margin of at least 20.3 percent and sales of more than 32 billion euros.
Continue reading, ‘Bayer Posts ‘Best Ever’ Yearly Results, Expect Trasylol Lawsuits.’