Sanofi 4Q Net Profit More Than Doubles
February 08 2017 - 1:59AM
Dow Jones News
By Noemie Bisserbe
PARIS--French drugmaker Sanofi SA (SAN.FR) said its
fourth-quarter net profit more than doubled, aided by lower
amortization and restructuring costs.
On Wednesday, the Paris-based drugmaker said net profit rose to
790 million euros ($843 million) from EUR334 million a year
earlier.
Business net income, the company's term for adjusted income
excluding the impact of acquisitions and divestments, declined 6%
to EUR1.61 billion. That bested analysts' expectations of EUR1.59
billion, according to a poll by data provider FactSet. Total sales
rose 3% to EUR8.87 billion.
Sanofi said it expects business earnings per share--excluding
the impact of acquisitions and divestments--to be stable or decline
by up to 3% in 2017 at constant exchange rates. Currency movements
could, however, have a 3% to 4% positive impact on revenue in 2017,
the company said.
Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
(END) Dow Jones Newswires
February 08, 2017 01:44 ET (06:44 GMT)
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