Sopharma Jsc is planning to invest some 60 million euros in 2008 and 2009, the company's annual report filed with BSE-Sofia reveals.

The pharmaceutical company expects a 10-12% hike in sales revenues this year and a 20-25% increase in pre-tax profit.

Sopharma posted net profit in the amount of 30.63 million leva (15.66 million euros) last year, which is 39% up from 2006 (22.034 million leva,).

42% of sales revenues last year came from sales on the domestic market. Exports accounted for 64.828 million leva, which is 41% up from 2006. The relative share of sales abroad stood at 52%, compared with 52% in 2006.

89% of exports are to Russia, Ukraine, Poland, Kazakhstan and Belarus.

This year Sopharma Jsc received a First Class Investment Certificate for its 37.65 million euro project for the construction of a medical plant.

Main shareholders are Donev investments and Telso Jsc which control 25.64% and 23.77% respectively. Telecomplect and Greamery Emerging Market Fund have 20.42% and 17.08%.

Photo: BGNES