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Bulgaria's Tchaikapharma posts slight rise in H1 net profit, revenue

Author Mario Tanev
Bulgaria's Tchaikapharma posts slight rise in H1 net profit, revenue Author: Tchaikapharma / All rights reserved.

SOFIA (Bulgaria), July 30 (SeeNews) - Bulgaria's Tchaikapharma High Quality Medicines [BUL:7TH] said that its net profit edged up to 5.0 million levs ($2.9 million/2.6 million euro) in the first half of 2018 from 4.9 million levs in the comparable period of 2018.

Tchaikapharma's revenue rose to 18.8 million levs in the first six months of the year from 18.5 million levs in the same period of 2018, the company said in an interim financial statement on Monday.

The majority of the company's revenue in the January-June period was generated from cardiovascular disease drugs - 14.5 million levs, up from 13.7 million levs in the prior-year period.

The company's expenses increased to 13.7 million levs in the review period from 13.1 million levs the year before, due to higher expenses for materials and hired services.

Tchaikapharma's assets amounted to 114.2 million levs at the end of June, up from 111.0 million levs a year earlier.

The company employed 136 people at the end of June - three more compared to a year earlier.

Tchaikapharma's portfolio includes over 150 pharmaceutical products.

As at 13:30 CET on Tuesday, Tchaikapharma shares traded flat at 9.75 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)