BioMerieux Raises Margin Target With Increase Of H1

French healthcare diagnostics group, bioMerieux, reported an increase in sales by 11.6% to E589.5m from E528.2m for the first-half of previous year.

bioMerieux posted net profit in the first-half rose 12.2% to E63.4m or E1.59 per diluted share compared to net profit of E56.3m or E1.43 per share a year ago. Operating income reached E92.5m, a 9.2% increase on the E84.7m reported in first-half of 2008.

The company raised its objective for operating margin target before non-recurring items. It is now targeting an operating margin of about 17%, up from a previous target of about 16%. It also confirmed its 2009 sales target for like-for-like growth of between 5% and 7%.

Stephane Bancel, CEO of bioMerieux, said: “With sales growth of over 10% at constant exchange rates and operating income before non-recurring items up 16%, bioMerieux achieved a good first-half 2009, in an environment shaped by the global economic crisis. This performance shows, yet again, the resistance of our business model. During the first six months of the year, we stepped up our transformation process, and our teams are more committed than ever to successfully implementing the 2012 strategic plan and ensuring bioMerieux’s long-term growth.”