Drug Maker Biofarm's 1Q Net Profit Rises 20% To RON6M

05.13.2011 By Andrei Circhelan

Romanian medicine maker Biofarm (BIO.RO) on Friday reported a net profit of 6 million lei (EUR1.46 million) in January to March, up 20.4% from RON4.98 million in the same interval of 2010.

Sales rose 26.2% to RON28.6 million, from RON22.64 million in January-March 2010.

Revenue increased 29.2% on the year to RON28.8 million, while expenditure rose 35% to RON21.17 million.

Company shareholders include SIF Oltenia (SIF5.RO) with 23.1%, SIF Banat-Crisana (SIF1.RO) with 16.6%, SIF Moldova (SIF2.RO) with 12.2% and privatization authority AVAS with 1.04%.

Biofarm shares closed down 0.1% Friday, to RON0.2042. (EUR1=RON4.106)