SARAJEVO (Bosnia and Herzegovina), March 2 (SeeNews) – Bosnian pharmaceuticals maker Bosnalijek [SAJ:BSNLR] said on Thursday its pre-tax profit increased 6% on the year to 11.8 million marka ($6.3 million/6 million euro) in 2016.
The company's sales revenue jumped 11% on the year to 135.8 million marka, backed by strong growth on the domestic market and an expansion in exports, the company said in response to a SeeNews inquiry.
On the domestic market, Bosnalijek continued to strengthen its leading position, outpacing the market, a company spokesperson said. "Every seventh drug package that reaches the final consumer in Bosnia is produced by Bosnalijek."
In 2016, Bosnalijek was present on 16 international markets and 68% of its total revenue was generated outside Bosnia.
The company's most important export market was the Russian Federation, where it achieved sales growth of 17% compared to 2015.
In October, Bosnia's Federation 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)