June 24 (SeeNews) - Bulgaria's Phoenix Pharma, part of Germany's Phoenix Group, said that the construction of a new build-to-suit warehouse in Sofia that will replace its existing facility in the Bulgarian capital is expected to begin later this year.
The pharmaceuticals trader is also planning to invest in the expansion of its regional warehouse in Plovdiv this year, the company said in its annual financial statement published last week.
Currently, Phoenix Pharma has four warehouses in Bulgaria - in Sofia, Plovdiv, Burgas and Veliko Tarnovo.
Besides wholesale, Phoenix Pharma's activities also include pre-wholesale, as well as development of pharmacy software.
Phoenix Pharma closed 2018 with a net profit of 3.1 million levs ($1.8 million/1.6 million euro) on revenue of 707.7 million levs.
(1 euro = 1.95583 levs)