BERLIN -Bayer AG says its earnings more than doubled in the third quarter compared with a year-earlier figure that was weighed down by one-time charges.
The pharmaceutical and chemical company said Thursday that its net profit for the July-September period was euro642 million ($893 million) — a 125 percent increase over the previous year's euro285 million.
Revenue was up 1 percent to euro8.67 billion from euro8.58 billion. Bayer said the increase was driven by sales in emerging markets.
The company confirmed its full-year forecast for increases in revenue and earnings.
Special charges in the third quarter sank to euro75 million from euro436 million a year earlier. Much of last year's charges stemmed from a set-aside to deal with a settlement program for litigation concerning genetically modified rice.
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