Schering’s Net Profit Rises 34 Percent

BERLIN – Drug maker Schering AG said Friday it saw net profit rise 34 percent in the second quarter, boosted by gains from the sale of a stake in another company.

Earnings rose to 176 million euros ($213 million) in the April-June period from 131 million euros in the same quarter a year earlier, on sales that rose 7.7 percent to 1.336 billion euros ($1.61 billion).

The stronger result led the company to raise its target for profit margins for the year, which it now expects to be in the range of 16.5 percent to 17 percent in 2005. Previously, the company had said its operating margin this year would be “above 16 percent.”

The increased net profit in part reflected the sale in June of Schering’s 25 percent stake in private oncology company Medac GmbH.

The Berlin-based company said sales of its multiple sclerosis treatment Betaferon rose 15 percent in the quarter, and it also cited stronger sales for its Yasmin birth control pill.

Company shares rose 2.1 percent to 52.62 euros ($63.70) in midday trading in Frankfurt.