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Bulgaria's Sopharma Trading boosts Q1 cons net profit 21% y/y

May 28, 2024, 12:06:33 PMArticle by Mihaela Miteva
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May 28 (SeeNews) - Bulgarian pharmaceuticals wholesaler Sopharma Trading [BUL:SFT] said on Tuesday that its consolidated net profit went up to some 13.5 million levs ($7.5 million/6.9 million euro) in the first quarter of 2024 from 11.1 million levs in the comparable period of last year.

Bulgaria's Sopharma Trading boosts Q1 cons net profit 21% y/y
Photo: Sopharma Business Towers

The company's overall revenue grew to some 468 million levs in January-March from some 417.9 million levs a year earlier, Sopharma Trading said in an interim financial statement.

Sales to hospitals added 22.2% on the year to 113.9 million levs, while sales through pharmacies climbed by 11.5% to 289.6 million levs. At the same time, wholesale volume fell by 4.5% year-on-year to 54.6 million levs, whereas sales of medical devices jumped by 22.8% to 7.2 million levs.

Sopharma Trading's operating expenses widened by an annual 12% to 453.5 million levs in the first three months of this year, with the cost of goods sold expanding to 406.9 million levs from 365.2 million levs in the like period of 2023.

The company's biggest shareholder is Bulgarian drug maker Sopharma [BUL:SFA], which held a stake of 87.68% at the end of March.

As of 1105 CEST on Tuesday, shares in Sopharma Trading traded 0.85% lower at 5.85 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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