Boiron Shares Fall Most Since 1989 on First-Half Earnings
Boiron SA (BOI), a French maker of homeopathic remedies, fell the most since at least 1989 in Paris trading after reporting a slump in first-half earnings.
Boiron declined 6.80 euros, or 25 percent, to 20.10 euros. The stock’s loss was the biggest since at least Nov. 17, 1989, according to data compiled by Bloomberg.
First-half operating profit plunged 93 percent to 686,000 euros from 9.2 million euros a year earlier, the company said in a statement late yesterday. Sales in the second quarter declined 3.3 percent.
“The uncertainties tied to the economic environment lead us to being prudent as to the outlook for the year,” Boiron said in the statement.
To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net
To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net
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