SARAJEVO (Bosnia and Herzegovina), March 12 (SeeNews) – Bosnian pharmaceuticals producer Bosnalijek [SAJ:BSNLR] said its pre-tax profit rose to 13 million marka ($8.2 million/6.6 million euro) in 2017, up 12% on the year.
The company's sales revenue grew 13% on the year to 153 million marka in 2017, with 70% of the total or 107 million marka earned on foreign markets, Bosnalijek said in a statement over the weekend.
In 2017, Bosnalijek completed several important projects launched in previous years, including the construction a new quality control facility with cutting-edge laboratory equipment.
In the second half of 2017, Bosnalijek acquired a stake in local peer Pharmamed d.o.o, with the aim to further develop Bosnia's pharmaceutical industry.
In October 2016, Bosnia's Federation government sold its 19.3% stake in Bosnalijek for 23.4 million marka to Malta-based financial services provider KBC Euro Credit Capital.
The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro=1.95583 marka)