Danish cultures company Chr Hansen experienced solid growth in its first quarter from 1 September 2010 to 30 November 2010. Compared to the same period last year Chr. Hansen’s revenue increased 22%, corresponding to organic growth of 16%. Revenue amounted to EUR156 million, an increase of 22%, with organic growth of 16%.
“I am very pleased to report that based on the performance in Q1, the organic revenue outlook for the group for 2010/11 has been revised upwards, from 8-10% to 11-13%,” says CEO Lars Frederiksen. “The financial year 2010/11 has started positively with strong organic growth in all three divisions. Strong demand for DVS cultures is driving results in cultures and enzymes. Health and nutrition benefited from the continued interest for probiotics, while the pronounced consumer preference for natural colours resulted in organic growth of 46% in colours and blends.”
The cultures enzymes division accounted for 60% of group revenue in Q1 2010/11 and revenue growth of 12% compared to the same period last year, corresponding to organic growth of 6%. Growth was driven primarily by yogurt, cheese and wine cultures, notably in the Asia-Pacific region and North America.
Accounting for 12% of group revenue, the health and nutrition division experienced organic growth of 13% and revenue growth of 16% in Q1 2010/11. The division had particularly strong growth from the human health area. Chr Hansen experienced solid revenue growth in all its regions including emerging geographies as well as mature markets.