Business News

FRANKFURT, Oct 26, (APP/AFP) – German chemicals and pharmaceuticals giant Bayer on Wednesday said it had slightly increased its forecast for the whole year after boosting sales and profits in the third quarter. Results released by the firm showed it had increased profits by 18.8 percent to 1.2 billion euros ($1.3 billion) between July and September compared with the same period the previous year, on sales of 11.3 billion euros. Analysts surveyed by Factset had predicted profits of 1.08 billion euros. Based on its performance, Bayer said it would target a “high single-digit percentage increase in adjusted profits per share” for the whole year rather than the “mid-to-high” increase it had in its sights previously.