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Bayer Profit Up |
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9:12 AM EDT August 29 2006 |
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Bayer, German chemicals and pharmaceuticals company, reported a rise in Q2 adjusted profit, but said it would cut 1,500 jobs in the one division where sales declined, in CropScience. Earnings before interest and tax, including a week of Schering results and excluding the diagnostics unit it's agreed to sell and also excluding special items, advanced 14% to 928 million euros ($1.18 billion), with sales up 6% to 7.07 billion euros. It said it would meet its 2006 targets when not including Schering results, with better results than expected at HealthCare and MaterialScience but CropScience sales now seen falling for the year. |
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