SOFIA (Bulgaria), March 1 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] said on Wednesday its consolidated net profit rose 124% to 50.7 million levs ($27.3 million/25.9 million euro) in 2016.
Operating profit grew 16.5% to 42.5 million levs in 2016, Sopharma said in an annual financial report filed with the Sofia bourse.
Sales revenue edged up 0.8% to 881.7 million levs in the review period.
Financial income rose 20% to 8.2 million levs in 2016, while financial costs fell 40% to 13 million levs.
Sopharma’s profit from the sale of shares in subsidiaries rose to 14.3 million levs in 2016, from 7.2 million levs a year earlier.
Sopharma operates 15 pharmaceutical plants in Bulgaria, two in Serbia, and one in Ukraine and owns also a distribution firm. It sells approximately 70% of its production on the domestic market and exports 28% to Europe.
Sopharma shares traded 2.99% higher at 3.584 levs as at 14:00 CET on Wednesday.
(1 euro=1.95583 levs)