SARAJEVO (Bosnia and Herzegovina), May 18 (SeeNews) – Bosnian pharmaceuticals producer Bosnalijek [SAJ:BSNLR] said on Friday its net profit edged up to 9.7 million marka ($5.8 million/5.0 million euro) in 2017, from 9.5 million marka in the prior year.
The company's operating income expanded 13.3% to 155.0 million marka in 2017, while operating costs increased 1.2% to 123.3 million marka, Bosnalijek said in a filing to the Sarajevo Stock Exchange.
Earlier this year, the company revealed its sales revenue grew 13% on the year to 153 million marka in 2017, with 70% of the total or 107 million marka earned on foreign markets.
In the second half of 2017, Bosnalijek acquired a stake in its local peer Pharmamed d.o.o, with the aim to further develop Bosnia's pharmaceutical industry.
In October 2016, Bosnia's Federation government sold its 19.3% stake in Bosnalijek for 23.4 million marka to Malta-based financial services provider KBC Euro Credit Capital.
The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro=1.95583 marka)