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Bulgaria's Sopharma Trading H1 grows net profit, revenue

Author Mario Tanev
Bulgaria's Sopharma Trading H1 grows net profit, revenue Author: Sopharma Trading / All rights reserved.

SOFIA (Bulgaria), July 31 (SeeNews) - Bulgarian drug trader Sopharma Trading [BUL:SO5] said that its non-consolidated net profit rose to 9.4 million levs ($5.4 million/4.8 million euro) in the first half of 2019 from 8.1 million levs in the like period of 2018, backed by higher revenue.

Sopharma Trading's first-half revenue grew to 388.1 million levs, from 360.0 million levs in the comparable period of 2018, the company said in an interim financial statement after the Bulgarian Stock Exchange's end bell on Tuesday.

In the second quarter, the company's sales added 9.04% to 185.8 million levs, backed by a hefty 12.95% rise on the hospital segment, to 44.9 million levs. Sopharma Trading's sales on the pharmacy segment added 6.53% to 100.5 million levs in the April-June period.

The development of the company's sales was more or less in line with the overall trend on the Bulgarian pharmaceutical market in the second quarter. Sales of pharmaceutical products in Bulgaria rose 7.93% to 832.5 million levs in the April-June period. Pharmacy sales added 4.81% to 650.1 million levs, while sales to hospitals grew 20.72% to 182.3 million levs.

In the first half of 2019, Sopharma Trading was the second biggest player on the Bulgarian pharmaceutical market, with a market share of 21.62%. The company held a 19.71% market share on the pharmacy segment, and 28.81% on the hospital segment.

The company's portfolio includes nearly 15,000 pharmaceutical products.

Sopharma Trading's biggest shareholder at the end of June was Bulgarian drug maker Sopharma [BUL:3JR], with 72.97% interest.

(1 euro = 1.95583 levs)