Novozymes reports Q4 operating profit below estimates

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FILE PHOTO: Containers are seen in a laboratory in an enzyme factory of Danish biopharmaceutical company Novozymes in Beijing

COPENHAGEN – Enzymes maker Novozymes on Tuesday reported fourth quarter operating profit slightly below expectations but said it expected sales to grow organically by between 3-7% in the next financial year.

The Danish company said fourth quarter earnings before interest and tax came in at 805 million Danish crowns ($121.60 million), below an average estimate of 844 million forecast by analysts in a Refinitiv poll.

($1 = 6.6200 Danish crowns)

(Reporting by Nikolaj Skydsgaard; Editing by Kirsten Donovan)