October 1 (SeeNews) - Bosnian pharmaceuticals company Bosnalijek had a first-half net profit of 3.20 million marka ($2.33 million/1.63 million euro), down from 5.82 million marka a year earlier, figures showed on Monday.
Company assets totalled 150.1 million marka at the end of June, up from 144.5 million marka at the end of 2006, Bosnalijek said in its half-year financial statement filed with the Sarajevo Stock Exchange (SASE).
Details follow (in millions of Bosnian marka):
|
|
H1'07 |
H1'06 |
| NET PROFIT |
3.20 |
5.82 |
| OPERATING REVENUE |
40.73 |
39.35 |
| OPERATING COSTS |
37.53 |
33.53 |
Bosnalijek said earlier it planned to raise its revenue by 10% and exports by 30% this year, and to invest 12.5 million marka in upgrading its facilities. Its exports last year grew by 54%, to 16.9 million marka.
The company has also said it plans to raise its profit by 19% to 9.3 million marka this year.
Bosnalijek is based in the Bosnian capital Sarajevo and is one of the country's two major drug producers. The other is a unit of Serbia's Hemofarm, based in the northwestern Bosnian city of Banja Luka, which German generic drugs maker STADA acquired in September 2006.
Bosnalijek exports its output to the countries of former Yugoslavia, Albania, Russia, Ukraine, Moldova, Saudi Arabia, Qatar and Libya. The company said last year it planned to enter the European Union market. Bosnalijek says it controls 30% of the Bosnian pharmaceuticals market, estimated at 220 to 250 million marka a year.
The government of Bosnia's Muslim-Croat Federation, where Bosnalijek operates, is the biggest single shareholder in the company with a 28.9% stake.
The Muslim-Croat Federation is one of the two autonomous parts forming war-divided Bosnia. The other is the Serb Republic.
The Federation government agreed earlier this year to trade some of its stake in Bosnalijek with Libya for Bosnia's pre-war debt to the African country, estimated at some $12.6 million (8.8 million euro).
(1 euro=1.95583 Bosnian marka)