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Bayer Annual Profit Soars but Misses Estimate |
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8:21 AM EST March 06 2006 |
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Bayer AG, chemicals and pharmaceutical company, reported that annual profit soared to 1.6 billion euros from 685 million euros, with sales up 17.6% to 27.38 billion euros, or up 7.5% on a comparable basis. Its earnings before interest and tax rose 50% to 2.81 billion euros on selling price increases in MaterialScience, growth in pharmaceuticals and by the acquired products in consumer care. Analysts were expecting a profit of 1.63 billion euros on sales of 27.03 billion euros. |
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