Biopharmaceutical giant AstraZeneca has said that full-year earnings are now expected to come in at the lower end of previous guidance.
While the firm reiterated that core earnings per share (EPS) for 2011 will come within the expected range of $7.20 to $7.40 a share (set out in its third quarter results in October), they are now likely to be in the lower half of forecasts.
Nevertheless, the figure is still an improvement on the $6.71 core EPS reported in 2010.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Astra also reaffirmed its revenue, margin and cash deployment guidance for the period 2010 to 2014.
Back in January 2011, the group said that revenue will be in the range of $28-34bn per annum over the period, "as revenue growth from key franchises that retain exclusivity and continued growth in Emerging Markets are pressured by the loss of market exclusivity on a number of products."
BC
-
Are Premium Bonds worth it? Two-thirds of holders have never won a prizeMore than 14 million Premium Bonds holders have never won despite increases in the number of prizes worth £50 and £100
-
Why did Labour take over British Steel – was it a good idea?The government has stepped in to take control, not ownership, of British Steel, citing national security and other factors. But does that make sense?
