Supplements maker DSM shares drop 10 per cent after lacklustre forecast for 2014

The Associated Press 0

AMSTERDAM – Shares in Royal DSM NV, the largest maker of nutritional supplements, are selling off sharply after the company said it expected little growth in 2014.

Shares fell about 10 per cent to 51.08 euros in Amsterdam.

The company pre-released some provisional fourth quarter earnings numbers — which had not been expected until February — that showed sales grew 3.1 per cent to 2.38 billion euros ($3.22 billion) and operating profit rose roughly 30 per cent.

But it said it expected little growth in 2014 on current trends of a strong euro, weak European demand, recovering U.S. and slowing emerging markets.

The company noted some specific issues, including weak demand for products containing Omega 3 fish oil, and pressure on prices, especially in vitamin E, used in animal feed.

Leave a comment

Your email address will not be published. Required fields are marked *