Copenhagen, Sept 11 - Danish food ingredients and enzymes maker Danisco is expected to post a 13 percent drop in operating profit for the first quarter of its 2009-10 year, a Reuters poll of 10 analysts showed on Friday.
Earnings before interest and tax (EBIT) were forecast at 351 million Danish crowns ($69 million) in the three months to end-July, down from 403 million a year ago.
Danisco, which sells enzymes and ingredients used to produce items such as ice cream, soft drinks, jeans, detergents and biofuels, has guided for full-year EBIT of 1.3 billion crowns and organic revenue growth of 3-4 percent.
Three out of eight analysts who disclosed their views on Danisco stock were positive, three were neutral, and two had negative ratings.
Following is a summary of forecasts for the results due on Thursday, Sept 17 (in millions of Danish crowns, except EPS, dividend and target price in crowns):
ESTIMATES FOR FIRST QUARTER 2009/2010
Mean Median High Low No. Yr ago
Total sales 3,404 3,401 3,505 3,329 10 3,235
EBITDA 554 567 590 462 8 571
EBIT (group) 351 343 422 301 10 403
Pretax profit 277 280 328 187 10 343
Net profit 186 190 240 85 10 230
EPS 3.93 4.01 5.06 1.79 10 4.74
Special items -4 -5 0 -10 10 -6
Target price 245 240 300 200 6 n/a
FULL YEAR 2009-10
Mean Median High Low No. Yr ago
Total sales 13,515 13,501 13,703 13,419 10 12,991
EBITDA 1,957 2,028 2,050 1,670 8 1,931
EBIT (group) 1,332 1,345 1,393 1,245 10 1,233
Pretax profit 1,012 999 1,100 956 10 381
Net profit 691 690 769 646 10 131
EPS 14.58 14.56 16.22 13.63 10 2.28
Dividend per share 7.60 7.50 8.00 7.50 5 7.50
Special items -14 -20 0 -25 10 -738
FULL YEAR 2010-11
Mean Median High Low No.
Total sales 14,260 14,198 14,750 14,007 9
EBITDA 2,211 2,208 2,296 2,150 7
EBIT (group) 1,541 1,544 1,650 1,400 9
Pretax profit 1,247 1,256 1,425 1,050 9
Net profit 857 876 954 732 9
EPS 18.08 18.48 20.13 15.44 9
Dividend per share 7.15 7.50 8.50 4.76 5
Special items -2 0 0 -20 9