Roche H1 "solid"
This article was originally published in Clinica
Roche posted an overall “solid” set of first-half results, “with in-line revenues and core EPS 2% ahead of consensus”, according to Jefferies analyst Jeffrey Holford. Furthermore, diagnostics sales of CHF5.1bn ($5.4bn) were up 2% year-on-year (+3% at constant currency rates), 1% ahead of analyst expectations, Mr Holdford noted. This is a turnaround from Roche’s first quarter, when diagnostics were the weak link, with sales growing just 1% (www.clinica.co.uk, 11 April 2013). However, Roche’s pharma division was still the top performer in H1, with revenues climbing 4% to CHF18.2bn. Group H1 sales were CHF23.2bn, up 4% year-on-year.