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Business News in Brief: Lundbeck posts healthy interims
Ben Hamilton
August 24th, 2016
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Pharmaceutical giant expecting profits of 1.5-1.7 billion kroner
Definitely worth a star for effort (photo: News Oresund)
Pharmaceutical giant Lundbeck has announced revenue of 7.5 billion kroner for the first six months of 2016 – an increase of 5 percent that has led to it adjusting its projected turnover for the year to 14.6-15 billion and its profit to 1.5-1.7 billion. The company mainly attributed the success to the improved performance of drugs like Abilify MAINTENA, Brintellix, Northera, Onfi and Rexulti.
Precedent ruling still being felt
The ripples of a ruling made by the Eastern High Court on May 26 continue to be felt. The case involved a woman assured of a permanent work contract who then learned her 11-month fixed-term contract would not be renewed after she revealed she was pregnant. The court ruled the company had been guilty of unlawful discrimination but not unfair dismissal. The absence of a binding commitment was key in the decision. An assurance via a non-official channel was not binding enough, the court ruled.
Loan boosts bunker fuel giant
Danish bunker fuel company Monjasa is celebrating a 529.4 million kroner loan from French bank Societe General that it claims will help it solidify its transition from “regional bunker company to global diversified trading group”, reports Bunkerwire. Monjasa has a presence in Europe, the Americas, the Middle East and Southeast Asia. Last year it made total revenue of 10.6 billion kroner.
Another acquisition for cement firm
North Jutland cement business Aalborg Portland has acquired Belgian rival Compagnie des Ciments Belges for 2.3 billion kroner. The purchase will see its annual turnover rise to 8 billion kroner and its employee numbers jump to around 3,000 – an approximate increase of 20 percent both ways – but it will lead to no new jobs in Denmark.
Rise in consumer confidence
The Danish consumer confidence index rose from 3.1 to 4.8 over August, reports Reuters. The monthly figures are based on a survey of future consumer intentions, which also takes into account both individual and national economic trends.
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