March 7 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Tuesday its sales revenues rose by 8% in the first two months of 2017.
"We are extremely pleased with our results on the Russian market in the beginning of the year as in February alone the growth of sales revenues from exports reached 40%, compared to the same month in 2016," Ognyan Donev, CEO of Sopharma, said in a bourse filing.
On the domestic market the company's sales revenues fell by 5% in January-February period. Sales abroad rose by 16% compared to the same period last year.
Sopharma, Bulgaria's biggest drug maker, has subsidiaries in Russia, Serbia, Belarus, Poland, Latvia, Lithuania, Ukraine and Kazakhstan.
Sopharma shares traded 1.86% higher at 3.350 levs ($1.81/1.71 euro) at 15:15 CET on Tuesday as 5,297 shares had changed hands on the Bulgarian Stock Exchange by that hour.
Last week, Sopharma said its consolidated net profit rose 124% to 50.7 million levs in 2016.
(1 euro = 1.95583 levs)