Eurofins Scientific: France’s actions in Eurofins rally by targeting more coronavirus products

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Net profits increased 60.9% from the previous year to 95 million euros (85.92 million pounds).
Turnover increased 7.2% to 2.323 billion euros and Eurofins expressed confidence in meeting its 2020 financial targets, which include reaching 5 billion euros in revenue.
Eurofins has launched a range of products to detect the presence of the SARS-CoV-2 virus responsible for the COVID-19 disease, thereby strengthening its overall performance.
Eurofins shares rose around 10% early in the session, to all-time highs. The stock has grown by around 30% since the start of 2020, giving Eurofins a market capitalization of around € 12 billion.
“Good performance across the board,” the Jefferies brokerage wrote, maintaining a “buy” rating on Eurofins shares. (Reporting by Sudip Kar-Gupta; Editing by Shri Navaratnam and Edmund Blair)
Par Sudip Kar-Gupta

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