Romania Farmaceutica Remedia Sees 53% Higher Profit In 2011

04.22.2011 By Florentina Dragu

Romanian pharmaceuticals supplier Farmaceutica Remedia Deva (RMAH.RO) estimates a net profit to 2.98 million lei (EUR0.73 million) for 2011, nearly 53% higher on the year, according to the company’s revenue and expenditure budget.

Romanian pharmaceuticals supplier Farmaceutica Remedia Deva (RMAH.RO) estimates a net profit to 2.98 million lei (EUR0.73 million) for 2011, nearly 53% higher on the year, according to the company's revenue and expenditure budget.

In 2010, Farmaceutica Remedia reported net profit of RON1.95 million.

The company estimates total revenue of RON224.02 million in 2011, up 21.2% on the year, while overall costs are expected to increase at a similar pace, to RON220.28 million.

Farmaceutica Remedia will pay out total dividend of RON1.06 million from the 2010 profit.

Managing board president Valentin Norbert Tarus holds 66.05% of the company's shares, while Lutz Stache controls a stake of some 16.5%.

On the Bucharest bourse Wednesday, Farmaceutica Remedia closed flat at RON0.21 a share. (EUR1=RON4.0815)