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Bulgaria's Sopharma Trading lifts Q1 cons net profit, revenue

Author Mario Tanev
Bulgaria's Sopharma Trading lifts Q1 cons net profit, revenue Author: Sopharma Trading / All rights reserved.

SOFIA (Bulgaria), May 31 (SeeNews) - Bulgarian drug trader Sopharma Trading [BUL:SO5] said that its consolidated net profit rose to 2.3 million levs ($1.3 million/1.2 million euro) in the first quarter of 2019 from 2.1 million levs in the same period of 2018, following an increase in revenue.

Earning per share increased to 0.07 levs in the first three months of 2019 from 0.06 levs in the like period of 2018, the company said in an interim financial statement on Thursday.

As at 13:45 CET on Friday, Sopharma Trading shares traded flat at 7.1 levs on the Bulgarian Stock Exchange. The company's shares are up 1.43% year-to-date, compared to a 2.07% decrease for the blue-chip SOFIX index in the same period.

Sopharma Trading's total revenue grew to 237.6 million levs in the January-March period from 223.7 million levs in the comparable period of 2018.

Pharmaceutical products sales increased to 233 million levs in the review period from 220.2 million levs the year before. Sales in the company's pharmacy network amounted to 147.6 million levs, or 63.35% of the total, while sales to hospitals totalled 43.6 million levs, or 18.69%.

Sopharma Trading held a market share of 21.8% of the Bulgarian pharmaceuticals market in the first three months of the year, including a 19.82% share on the pharmacy segment, and 29.88% on the hospital segment.

The company's cost of goods sold rose to 213.7 million levs in the first quarter from 203 million levs in the corresponding period of 2018.

Sopharma Trading's assets rose to 443.7 million levs at the end of March from 418.4 million levs a year earlier.

Current assets amounted to 336 million levs, of which 204.3 million levs in receivables and 119.4 million levs in inventory.

Current liabilities totalled 319.9 million levs, of which 151.4 million levs in loans from banks and non-banking institutions, and 154 million levs in payables.

Sopharma Trading is a unit of Bulgarian drug maker Sopharma [BUL:3JR], which held a 72.96% stake in the company at the end of March.

(1 euro = 1.95583 levs)