Novozymes A/S advanced to the highest price in more than four months in Copenhagen trading on bets the world’s largest maker of enzymes is winning market share in the detergent industry.
Novozymes advanced as much as 0.8 percent to 164.80 kroner, heading for its highest closing price since April 4. The stock rose 0.7 percent to 164.60 kroner at 9:24 a.m. in the Danish capital compared with a 0.1 percent advance in the OMX all-share Copenhagen index.
“Novozymes has clearly outgrown the end-market for detergents and we believe this will continue,” Danske Markets in Copenhagen said today in a note to clients. “Novozymes benefits from several long-term factors increasing enzyme content across detergent tiers and we still see room for significant growth potential.”
Novozymes, based in Bagsvaerd, Denmark, said on Aug. 16 that its household care unit, which makes enzymes for detergents, made up 33 percent of group sales in the six months through June, up two percentage points from a year earlier. The unit is “doing quite well” and will continue to grow, Chief Financial Officer Benny Loft said in an interview the same day.