Mexico’s Genomma Lab Rallies as CEO Affirms Sales Growth Outlook

Genomma Lab Products (Photo: Google)

According to Bloomberg.com, Mexico’s Genomma Lab Internacional SAB rose the most in July as Chief Executive Officer Rodrigo Herrera said the company was on pace to meet its sales growth projections this year.

The drug company is “comfortable” with the forecast of net sales growth of 5.2 percent in 2015, Herrera said in a phone interview with Bloomberg.com on Friday July 17th.

Its fourth-quarter results shocked shareholder Westwood International Advisors Inc., according to Richard Dolhun, an analyst at the firm. Genomma is due to publish its second-quarter earnings and hold a conference call with investors this week.

Genomma Lab Products (Photo: Google)
Genomma Lab Products (Photo: Google)

“We’re going to hold their feet to the fire,” Dolhun, whose firm oversees $5 billion in equities including Genomma, said by phone. “They have to have a tight message. They have to hit on what they’ve promised.”

Shares of Genomma increased 3.1 percent to 16.29 pesos at 12:35 p.m. in Mexico City. The benchmark IPC equity index rose 0.6 percent on Monday July 20th.

 

Source: http://www.bloomberg.com/



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