Novozymes A/S (NVZMF)

Enzymes maker Novozymes trims sales outlook after Q2 profit miss

Novozymes trimmed its full-year sales guidance on Wednesday after the Danish industrial enzymes maker reported a larger-than-expected fall in second-quarter profit. The company, which makes enzymes used in household products, food and beverages, and biofuels, said it was being affected by lower demand and destocking in the food and drinks sector and by higher raw material costs. Second-quarter operating profit came in at 865 million Danish crowns ($127 million) against 1.11 billion a year earlier and a mean forecast of 965 million in a poll of analysts published by Novozymes.