Ropharma Expects RON14.3M Pretax Profit In 2011

05.02.2011 By Andrei Circhelan

Romanian medicine distributor Ropharma Brasov (RPH.RO) on Monday said it expects a gross profit of 14.3 million lei (EUR3.5 million) this year, compared to RON13.3 million in 2010.

Sales are seen up 14%, to RON400 million, from RON352 million, the company said in statement sent to the Bucharest stock exchange.

The company plans to invest RON7.5 million this year, 36% more than the RON5.5 million invested in 2010.

Shareholders approved Friday the distribution of a total 0.35% stake in the company to employees and managers. The stake was bought back from the market and cannot be resold over the next three years.

Ropharma is indirectly owned by local businessman Mihai Miron.

Cyprus-registered ADD Pharmaceuticals holds a 22.55% stake, while Rimia Investments holds 21.43%. Other shareholders include Arrow Pharmaceuticals with 31.31% and local privatization authority AVAS with 0.33%.

Ropharma has a share capital of RON29.1 million, divided into 291 million shares with a face value of RON0.1.

Company shares were last traded Wednesday, at RON0.844, down 0.06% on the day.