August 4 (SeeNews) - Bulgarian pharmaceuticals maker Sopharma [BUL:SFA] said that its standalone net profit went up to 23.6 million levs ($ 12.3 million/12.1 million euro) in the first half of 2022 from just over 12 million levs a year earlier.
Sopharma's total revenue soared by an annual 35% to 116.9 million levs in the January-June period, boosted by double-digit increases in both exports and domestic sales, the company said in an interim financial statement on Monday.
The drug maker's domestic sales grew 35.8% to 45.7 million levs, while sales in Europe surged 46% to 17.4 million levs. Sales to other countries added 1.7% to some 8.3 million levs.
Sopharma's operating expenses added about 23% on the year to 89.7 million levs in the review period, due to higher expenses for materials and salaries, although expenses for hired services declined 8.6%.
As at June 30, Sopharma employed 1,720 staff compared to 1,860 a year earlier.
The assets of the company's two subsidiaries in Ukraine have to date not been affected by the ongoing Russian invasion. However, it may be necessary in future to revise the value of these investments depending on the course of the war and its effect on the activities of the units, Sopharma noted.
Shares in Sopharma closed 2.28% higher at 4.48 levs on the Bulgarian Stock Exchange on Wednesday.
(1 euro = 1.95583 levs)