Bayer reports mixed results
29 Oct 2008
Bayer has posted mixed financial results for the third quarter of the year.
The company reported sales growth in its HealthCare and CropScience divisions, but sales at Bayer MaterialScience were almost three per cent lower than in the third quarter of 2007.
Management board chairman Werner Wenning acknowledged that moving forward the company will be affected by the wider economic climate, but expressed optimism that it is well-placed to withstand any challenges.
He said: "We remain confident about the performance of our HealthCare business.
"We continue to expect all divisions to grow with or above the market after adjusting for currency changes."
Meanwhile the chairman of the executive board of Bayer Business Services GmbH will leave the company at the end of the calendar year.
Dr Andreas Resch is to join the management board of a Berlin-based consultancy firm.
