Romania Biofarm Sees 2011 Net Profit Up 4% At RON15M

04.20.2011 By Florentina Dragu

Romanian drugmaker Biofarm (BIO.RO) estimates a 4% rise in its full-year profit to 14.98 million lei (EUR1=RON4.0858) on total revenue of RON92.61 million, the company said Wednesday.

Romanian drugmaker Biofarm (BIO.RO) estimates a 4% rise in its full-year profit to 14.98 million lei (EUR1=RON4.0858) on total revenue of RON92.61 million, the company said Wednesday.

In 2010, Biofarm posted net profit of RON14.4 million and overall revenues of RON82.7 million.

The company's shareholder approved paying out a dividend of RON0.0055 a share from last year's profit. Total dividends will reach RON6.02 million.

It is the first dividend paid to shareholders since its listing on the Bucharest bourse in 2005.

Biofarm said will invest around EUR9.4 million in a drug production hall and storage facility this year. The project is 40% co-financed from EU funds.

The pharmaceuticals company has a share capital of RON109.4 million, split into 1.09 billion shares with a face value of RON0.1.

Romanian regional investment funds SIF Oltenia (SIF5.RO), SIF Banat Crisana (SIF1.RO) and SIF Moldova (SIF2.RO) own together around 47% of Biofarm's shares.

Monday, Biofarm closed down 1.09% at RON0.217 a share in Bucharest.