Danish medico firm Coloplast profits from US acquisition  

Coloplast posts better than expected interim figures, with the urology business acquired last year from US company Mentor making a useful contribution
Danish medico company Coloplast has posted 9 month interim figures showing a larger than expected growth in turnover, as a result of which the company has upgraded its expectations for the current financial year.
Coloplast writes in its financial statement: "The full-year 2006/07 forecast for organic revenue growth is raised from around 9% to around 10%, including the acquired urology business as from 2 June 2006. The EBIT margin forecast remains at 12-13%."
As reported last year on this website, the urology business acquisition was from Mentor in the US. Coloplast CEO Sten Schiebye commented on the latest results: “We had a good sales performance in the acquired urology business. It shows that our extensive integration efforts are beginning to pay off. Ostomy products also continued the strong sales performance, and thanks to our strong performance in the third quarter, we are raising our full-year revenue forecast.”
In the first 9 months, Coloplast generated revenue of DKK 5,982 m (USD 1,079 m) compared with DKK 4,776 m (USD 861 m) for the same period of last year, corresponding to an increase of 27% in local currencies and 25% in DKK. The news was reported by Business.dk and on Coloplast's website.
Coloplast develops, manufactures and sells products and services in ostomy, urology, continence care, wound & skin care. The company employs more than 6,000 people in 30 countries.
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