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Nov 02, 2017 12:55 EEST
November 2 (SeeNews) - Macedonian drug maker Alkaloid [MSE:ALK] said on Thursday its consolidated net profit rose to 554 million denars ($10.5 million/9.0 million euro) in the first nine months of 2017 from 509.4 million denars in the same period last year.
The company’s sales revenue increased to 6.65 billion denars in January-September from 6.16 billion denars in the comparable period of 2016, Alkaloid said in a bourse filing.
Cost of goods sold grew to 3.71 billion denars in the period under review from 3.31 billion denars the year before.
Alkaloid’s operating profit rose to 644.2 million denars in the nine months through September from 591 million denars a year earlier.
Last month, Zhivko Mukaetov, CEO and president of the company, told SeeNews he expects the company’s revenue in 2017 to increase by 8% compared to the 8.3 billion denars last year. In 2018, revenue is expected to exceed 150 million euro, Mukaetov said at the time.
Alkaloid has three subsidiaries in Macedonia, as well as 14 subsidiaries and four representative offices abroad - in Serbia, Montenegro, Kosovo, Albania, Bosnia and Herzegovina, Croatia, Slovenia, Switzerland, Bulgaria, Turkey, Ukraine, Russia, and the US.
Alkaloid also operates a laboratory in Slovenia for the purposes of batch testing and release in the European Union.
(1 euro=61.46 denars)
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