Bulgaria's Sopharma boosts 9-mo cons net profit 15% y/y

Sopharma's total operating revenue climbed to 1.39 billion levs in January-September from 1.23 billion levs a year earlier, the company said in an interim financial statement on Wednesday.

The increase was driven by a 13% year-on-year rise in sales to 1.38 billion levs, following sales growth in Moldova, Belarus, Russia, Poland and Serbia, along with Asian countries. Domestic market product sales went up 8% in annual terms, Sopharma said.

Sopharma's expenses widened to 1.32 billion levs in the nine months through September from 1.17 billion levs in the prior-year period, chiefly due to higher costs of goods sold, which went up 13% on the year to roughly 1 billion levs.

The company's assets stood at 1.44 billion levs at the end of September, compared to 1.25 billion levs at the end of last year.

As of end-September, Sopharma had a majority stake of 87.45% in pharmaceuticals distributor Sopharma Trading [BUL:SFT] and held controlling stakes in several other subsidiaries, including retailer SoPharmacy.

As of 1055 CET on Friday, shares in Sopharma traded 0.28% lower at 7.10 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)