German drugs and chemicals group Bayer is likely to report growth in 2004 sales at each of its three units and post an increase in fourth-quarter profits, its chief executive said.
Sales of Bayer's HealthCare unit would likely come in at €8.5 billion, CropScience at €6 billion and MaterialScience at €8.5 billion, Mr Werner Wenning said.
Mr Wenning said operating profit before exceptionals had risen in each of the past seven quarters, and he saw the trend continuing in the fourth quarter of 2004 but did not give details. The company gave no comparable number for 2003.
He said the current structure of Bayer would remain unchanged, having made the biggest restructuring in its 141-year history that saw it spin off chemicals and polymer unit Lanxess into a separately listed firm.
Mr Wenning said Bayer was on track for planned synergy savings of €570 million in its CropScience unit, adding that a further €200 million of savings were also planned.
