December 5 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Monday its revenue from sales abroad in the January-November fell by 10% year-on-year.
The total sales revenues declined by 5% in the period under review, the company said in a bourse filing.
On the domestic market sales revenues rose 2% in the January-November period.
"The Russian market remains unstable, which does not allow us to make full-year projections. Nevertheless, we managed to curb the decline in sales in the second half of 2016," Ognyan Donev, CEO and board of directors chairman, said in the statement.
In the ten months through October, Sopharma's sales revenue declined by 6% year-on-year, with domestic sales rising by 1% and exports shrinking by 11%, the company said earlier.
Last week the company said its consolidated nine-month net profit rose 35% on the year to 33 million levs ($17.9 million/16.9 million euro).
Sopharma, Bulgaria's biggest drug maker, has subsidiaries in Serbia, Belarus, Poland, Latvia, Lithuania, Ukraine and Kazakhstan.
In October, it filed for regulatory approval to acquire Moldovan pharmaceutical company RAP Pharma International.
Sopharma shares traded 1.6% lower at 2.941 levs as of 15:30 CET on Monday in a turnover of 5,140 shares on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)