ZAGREB, Sept 5 (Hina) - Pliva Group made 609.4 million kuna (EUR83.5 million) in net profit in this year's first six months, which is 25.9 percent more than at the same time last year, while stock returns increased by 38.2 percent to
34.81 kuna (EUR4.8), Pliva officials said on Thursday.
ZAGREB, Sept 5 (Hina) - Pliva Group made 609.4 million kuna (EUR83.5
million) in net profit in this year's first six months, which is
25.9 percent more than at the same time last year, while stock
returns increased by 38.2 percent to 34.81 kuna (EUR4.8), Pliva
officials said on Thursday. #L#
Total revenue in the first six months increased by 20 percent to
2.93 billion kuna (EUR0.4 billion). The sale of prescribed
medications (Rx medications) generated 1.43 billion kuna (EUR0.2
billion) which represents a 54.6 percent increase as against the
first half of 2001.
In the first half of 2002, foreign revenues increased by 30.7
percent to 2.27 billion kuna (EUR0.3 billion), which accounts for
77.8 percent of the company's total revenue, as against the
previous 71.4 percent.
Pliva's revenue increased mostly owing to the consolidation of AWD,
Pliva's German acquisition, and the company's good results in
Russia and Germany. Germany has become Pliva's largest
international market for Rx medications owing to the acquisition of
AWD.
Owing to the recent acquisition of Sidmak, Pliva officials expect
the United States to become its leading market for Rx medications.
Domestic sales dropped by 6.6 percent to 651.8 million kuna
(EUR89.3 million), which is the result of the reduced sale of
products for diagnosis and dialysis and non-prescription
medications.
Pliva's stock returns increased by 38.2 percent to 34.81 kuna
(EUR4.8), which reflects the company's good results in the said
period and its withdrawal of eight percent of its own shares in
December 2001.
In the first half of 2002, Pliva has continued to invest in the
research of new chemical entities and the development of generic
medicines.
In the same period, Pliva's investments amounted to 326.7 million
kuna (EUR44.8 million), of which 296.3 million accounts for capital
investments. The largest individual capital investment was the
continuation of the construction of a new research institute in
Zagreb (43.7 percent). The institute should start working in
October this year.
Other investments, amounting to 30.5 million kuna (EUR4.1
million), refer to the acquisition of Denmark's 2K Pharmaceuticals
company in February this year.
Pliva's management expects more than a 20 percent revenue increase
from products of the AWD and Sidmak companies.
(hina) it sb