Novozymes Reports Downbeat Q4 Net Profit

Novozymes A/S NVZMY reported a 3% rise in its fourth-quarter net profit. Novozymes projects 2012 net profit to rise between 5% and 8% It expects earnings before interest and tax (EBIT) to rise by 9% to 12% versus 2011. Novozymes' quarterly net profit climbed to DKK362 million, versus DKK350 million. Its sales gained 8% to DKK2.59 billion, from DKK2.40 billion. However, analysts were expecting net profit of DKK374.1 million on sales of DKK2.61 billion. Novozymes' quarterly EBIT gained 19% to DKK490 million, versus DKK417 million. Novozymes shares closed at $29.44 yesterday.