Enzymes maker Novozymes trims sales outlook after Q2 profit miss

COPENHAGEN (Reuters) - Novozymes trimmed its full-year sales guidance on Wednesday after the Danish industrial enzymes maker reported a larger-than-expected fall in second-quarter profit.

The company, which makes enzymes used in household products, food and beverages, and biofuels, said it was being affected by lower demand and destocking in the food and drinks sector and by higher raw material costs.

Second-quarter operating profit came in at 865 million Danish crowns ($127 million) against 1.11 billion a year earlier and a mean forecast of 965 million in a poll of analysts published by Novozymes.

The group now expects full-year sales growth of 4-6% versus 4-7% previously. It said second-quarter organic sales growth was 2%, driven by stronger sales at its Bioenergy division.

"We continue to expect a stronger second half supported by pipeline innovation, increased market penetration, and a softer comparator," CEO Ester Baiget said in a statement.

At 0720 GMT, Novozymes shares were down 2.3% at 320 crowns.

Finance chief Lars Green said the new sales guidance reflected developments in the food and beverage sector.

"The adjustments in inventories and supply chains for the food and beverage sector have been slightly more significant than expected," Green told Reuters in an interview

Novozymes in December agreed to take over Danish peer Chr. Hansen, with the companies expecting to complete the deal in the fourth quarter.

($1 = 6.7881 Danish crowns)

(Reporting by Johannes Birkebaek; Editing by Anna Ringstrom and Mark Potter)