March 12 (Bloomberg) -- DKSH Holding AG, a Swiss company that advises and helps businesses grow in Asia, rose to a record after forecasting double-digit earnings growth in 2013.
The shares gained as much as 5 percent to 81.05 Swiss francs, the highest since they began trading last March. They traded at 80.05 francs at 10:56 a.m. local time, giving the Zurich-based company a market value of 5.1 billion francs ($5.4 billion). Trading volume was about double the daily average over the past three months.
“DKSH’s main markets are expected to remain favorable thanks to the rapid growth of Asia’s middle classes, growing trade flows to and within Asia, and the trend for manufacturers to outsource non-core activities,” Chris Burger, an analyst at Helvea AG, wrote in a note to clients.
Full-year sales rose 20 percent to 8.83 billion francs, DKSH said in an e-mailed statement. That beat analysts’ average estimate of 8.61 billion francs, according to data compiled by Bloomberg. Earnings before interest and tax were 277.3 million francs, in line with a 278.8 million-franc estimate, and the company said it will pay a total dividend of 95 centimes a share.
DKSH’s consumer goods and health divisions performed better than expected, while results for the technology unit were “a bit disappointing,” Burger said.
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