FinnishOrion profit down 10: Finnish pharmaceuticals group Orion on Thursday reported January-September profit before extraordinaries falling 10.4 per cent to 571 million markka from 637 million in the year-ago period. The median of analysts' forecasts in a Reuters poll was for a 602 million markka profit (range 513-634 million). Orion said the fall in nine-month profits was due to lower gross margins and bigger marketing expenses and research and development costs at Orion Pharma. It warned that full-year operating profit would fall on 1997.

Schering sees 6% rise in 1998 sales: German pharmaceutical group Schering AG forecast a six-per cent increase in full 1998 year group sales compared to the previous year. The group also said that it expected single-digit growth in both sales and profit in 1999. Earlier reporting nine-month group results, Schering said that the Asian financial crisis and the temporary closure of one of its Brazilian factories had hit its sales figure. But, it added that strongbusiness development in Europe, other than Germany, and in North America more than offset lower Asian sales. Sales in the period under consideration rose three per cent to 4.8 billion marks ($2.9 billion), while pre-tax profit grew 10 per cent to 714 million marks and after-tax profit climbed seven per cent to 375 million marks.

Linde sees 13% sales rise in 1998: German engineering group Linde AG on Thursday reiterated its 13-per cent sales growth forecast for 1998 and saw profits growing at a similar pace, saying demand in Europe outside Germany was especially strong. Linde said in a statement that group sales rose 13.3 per cent to 7.716 billion marks ($4.58 billion) in the first nine months of 1998, with foreign sales up 13.6 per cent to 5.206 billion marks. It said the share of foreign sales rose to 67.5 per cent from 67.3 per cent in the year-ago period. "The present still-good business climate development in Europe allows for the positive growth of the Linde group. The recovery in Germanycontinues at a somewhat lower pace," Linde said. "Even though there are more signs of economic slowdown, we still expect a 13-per cent rise in sales for the whole of 1998. We expect a similar rate of growth in profits," the company said.

PowerGen eyes US entry, wants lead UK role: British electricity producer PowerGen Plc said on Thursday it had repositioned as a leading player in the UK electricity and gas markets but an entry into the US remained a part of its strategy. PowerGen, which bought UK regional supplier East Midlands for 1.9 billion pounds ($3.16 billion) this year, reported half year pre-tax profits before exceptionals up eight per cent at 166 million pounds, above expectations, and paid out an interim dividend of 10 pence per share, a rise of 11 per cent.