Novozymes earnings in line, cuts long-term forecast

Danish enzyme maker Novozymes said on Tuesday operating profit for the fourth quarter of 2015 was roughly in line with analysts' expectations, but trimmed its longer-term sales forecasts.

Revenue for the quarter came in at 3.45 billion Danish crowns ($498.3 million) against a forecast for 3.49 billion in a Reuters poll. The company made an operating profit of 962 million crowns compared with 959 million expected by analysts.

It said it saw annual organic sales growth of 6-7 percent through to 2020.

That was a reduction from the 8-10 percent target through 2020 it had previously announced.

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