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Bulgaria's Sopharma grows Q1 cons net profit, revenue

Bulgaria's Sopharma grows Q1 cons net profit, revenue Sopharma/ All rights reserved

SOFIA (Bulgaria), May 30 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Thursday that its consolidated net profit rose to 15.4 million levs ($8.7 million/7.8million euro) in the first quarter of 2019 from 12.3 million levs a year earlier.

The company's operating revenue grew to 318.3 million levs in January-March, compared to 295.7 million levs in the like period of 2018, Sopharma said in an interim financial statement.

The company's sales revenue rose 7% to 313.4 million levs.

Domestic market sales and sales in Europe increased 7% each, representing 65% and 34% of the total sales revenue in the first three months of 2019, respectively. Domestically, Sopharma holds a market share of 3% by value and 10% in terms of quantity.

Sopharma's operating expenses rose to 301.6 million levs in the review period from 280.2 million levs in the first three months of last year, as cost of goods sold increased to 218.4 million levs from 210.1 million levs.

Sopharma has a number of subsidiaries abroad, including Moldova, Russia, Serbia, Belarus, Poland, Latvia, Lithuania, Ukraine and Kazakhstan.

As at 15:15 CET on Thursday, Sopharma shares traded 7.21% higher at 3.57 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)