Merck KGaA (MKGAF.PK)'s Profit Up As Cutbacks Cancel Out Forex Pain
3/6/2014 7:17:23 AM
Merck is axing jobs but others are hiring right now! Check it out! (Isn't it tempting?)
Germany's Merck KGaA , the worlds largest maker of liquid crystals for display screens, reported an unexpected rise in underlying profits on Thursday as the benefits of its cost cutting campaign more than offset the impact of weaker foreign currency exchange rates. After a slew of setbacks in drug development, the group is in the final phase of a restructuring effort, cutting more than 2,000 jobs. Fourth-quarter earnings before interest, taxes, depreciation, amortisation and one-off items edged 0.7 percent higher to 795.2 million euros ($1.1 billion), above the 784 million euros expected on average by analysts in a Reuters poll.
Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)
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