Biofarm Net Profit Up 2% to RON15M In First Half

08.13.2015 By Bogdan Neagu

Romanian pharmaceutical producer Biofarm (BIO.RO) Thursday reported a first-half net profit of 15 million lei (EUR3.4 million), slightly up from RON14.7 million in the year-earlier period.

Biofarm’s sales revenue increased 15% on the year to RON70.2 million in January to June, fueling a 20% rise in the operating profit, the company said in its quarterly financial report. The total operating costs stood at RON55.5 million, from RON47.5 million in the first six months of 2014.

As a result, the operating profit was of RON18.5 million in the January-June period, compared with RON15.4 million in the same interval of 2014.

The company’s liabilities fell to RON36.8 million at the end of June, from RON39.7 million at the end of 2014, and the company managed to improve collection of debts from customers during the first six months, the report showed.

Debt owed by customers was down to RON50.6 million at the end of June, against RON64 million in December 2014.

The company is listed on the Bucharest stock exchange and its main shareholders are three of the five regional investment funds (SIFs): SIF Muntenia (SIF4.RO) with 45.9%, SIF Banat-Crisana (SIF1.RO) with 19.8% and SIF Moldova (SIF2.RO) with 12.2%.