SOFIA (Bulgaria), January 30 (SeeNews) – Bulgarian drug maker Unipharm [BUL:59X] said on Tuesday its net profit rose to 1.9 million levs ($1.2 million/971,455 euro) in 2017, from 282,000 levs in the previous year.
Operating revenue increased to 19.6 million levs in the period under review, compared to 18 million levs in 2016, Unipharm said in a bourse filing.
You can subscribe to our M&A newsletter here
The company’s operating expenses edged up to 17.9 million levs compared to 17.8 million levs in the previous year.
In September, Bulgarian drug maker Sopharma [BUL:3JR] said it has signed an agreement to absorb its majority owned subsidiary Unipharm. Under the deal, Unipharm shares will be converted into Sopharma shares at a ratio of 1 : 0.891512. In December Sopharma said it has received approval for the transaction from the country's financial regulator.
(1 euro = 1.95583 levs)