April 30 (SeeNews) - Bulgaria's Sopharma Trading [BUL:SO5] said that its non-consolidated net profit rose to 6.1 million levs ($3.4 million/3.1 million euro) in the first three months of 2020 from 5.8 million levs in the same period of last year.
Sopharma Trading increased its revenue to 234.3 million levs in the January-March period of this year from 198.1 million levs in the comparable period of 2019, the company said in an interim financial statement on Wednesday.
Sopharma Trading said in a separate bourse filing on Wednesday that its profit before taxes amounted to 6.8 million levs in the first three months of 2020, up by 5% on an annual comparison basis, while in March alone, profit before taxes increased by 49% on the year to 3.4 million levs.
The company held a market share of 21.14% on the total pharmaceutical market in Bulgaria in the period under review. It claimed a 29.33% market share on the hospital segment, and 18.86% on the pharmacy segment.
In the first quarter alone, Sopharma Trading's sales rose by 18.95% to 230.6 million levs, as sales to hospitals increased by 22.85% to 53.5 million levs. Sales to pharmacies rose by an annual 12.21% to 121.7 million levs. Sales of medical devices grew to 6.4 million levs in the review period from 2.0 million levs in the first quarter of last year.
The company's operating expenses in the first three months of 2020 also increased, to 227.6 million levs from 191.6 million levs in the prior-year period.
The company employed an average of 823 people in the first quarter of 2020, up from an average of 821 in the preceding quarter.
Sopharma Trading's biggest shareholder at the end of March was Bulgarian drug maker Sopharma [BUL:3JR], with 74.23% interest.
As at 12:40 CET on Thursday, Sopharma Trading shares traded unchanged at 5.30 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)