Sopharma Consolidated Revenue Up 27% in a Year

Sopharma's () consolidated revenues are up 27% y/y to 107.06 mln leva (54.7 mln euros) against 84.28 mln leva (43 mln euros) last year, the consolidated Q1 report reveals.

Net sales revenue rose from 82.84 mln (42.3 mln euros) to 105.24 mln leva (53.8 mln euros) due to placed goods and production.

Sopharma saw a 33% hike in costs, from 74.614 mln to 99.22 mln leva (50.7 mln euros). This is mainly attributed to rising costs on economic elements and more specifically to the balanced value of sold assets (not including production). Last year those stood at 47.9 mln leva (24.4 mln euros), while in this first quarter they are at 60.01 mln leva (30.6 mln euros).

Q1 consolidated profit came to 7.5 mln leva (3.8 mln euros), or 22% down from the financial result in March 2007.

The company said it is sustaining its positions on the Bulgarian pharmaceuticals market. Sopharma is working with more than 30 distributors, the National Health Insurance Fund and the Health Ministry are also among it clients.

Tablet pill and ampule medicines account for 84% of sales.

Export in Q1 tops 20.7 mln USD, which is 76% up from Q1 last year. Exports account for 73% of all revenues.

The company exports to 25 countries. Nearly 90% of it goes to Russia, Ukraine, Kazalhstan, Poland and Uzbekistan.

Sopahrma is consolidating the results of the following subsidiaries and associated companies: Rostbalkanpharm, Pharmalogistics, Balgraska Roza – Sevtopolis, Sopharma Poland, Electroncommerce, Biopharma, Engineering, Sopharma Trading, Mineralcommerce, Sopharma USA, Sopharma Zdrovit, Momina Krepost, Vitaminii.

The stock gained 4.46% in BSE trade today to 6.32 leva at a turnover of 33,019 shares.

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