DSM shares fall on 2014 outlook
AMSTERDAM (AP) — Shares in Royal DSM NV, the largest maker of nutritional supplements, are selling off sharply after the company said it expected little growth in 2014.
Shares fell about 10 percent to 51.08 euros in Amsterdam.
The company pre-released some provisional fourth quarter earnings numbers — which had not been expected until February — that showed sales grew 3.1 percent to 2.38 billion euros ($3.22 billion) and operating profit rose roughly 30 percent.
But it said it expected little growth in 2014 on current trends of a strong euro, weak European demand, recovering U.S. and slowing emerging markets.
The company noted some specific issues, including weak demand for products containing Omega 3 fish oil, and pressure on prices, especially in vitamin E, used in animal feed.