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Roche 2016 net income increased 7 percent

Staff Writer |
Roche Holdings reported that its fiscal 2016 IFRS net income increased 7 percent to 9.73 billion Swiss francs from last year's 9.06 billion francs. Earnings per share were 11.13 francs.

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Core net earnings were 12.69 billion francs or 14.53 francs per share, compared to 13.49 francs per share a year ago. Core operating profit was 18.42 billion francs, up 5 percent from 17.54 billion francs last year.

Group sales in the year increased 5 percent to 50.58 billion francs from 48.15 billion francs a year earlier. Group sales increase 4% at constant exchange rates.

Pharmaceuticals Division sales went up 3%, mainly driven by cancer medicines Perjeta and Herceptin as well as Actemra/RoActemra. Diagnostics Division sales grew 7%, driven primarily by immunodiagnostic solutions.

Further, the Board proposed dividend increase to 8.20 francs per share.

Looking ahead, for fiscal 2017, Roche expects sales to grow low- to mid-single digit, at constant exchange rates. Core earnings per share are targeted to grow broadly in line with sales, at constant exchange rates.

Roche expects to further increase its dividend in Swiss francs.

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