Bulgarian Sopharma's H1 Cons Net Profit Falls despite Rise in Revenue

Bulgarian Sopharma's H1 Cons Net Profit Falls despite Rise in Revenue

The consolidated net profit of Bulgarian drug maker Sopharma [BUL:3JR] fell to 20.7 million levs ($12.3 million/10.6 million euro) in the first half of 2018 from 28.9 million levs in the same period of last year, despite a rise in revenue, the company said on Wednesday. Sopharma's total operating revenue grew to 577.7 million levs in the review period from 479.9 million levs the year before, according to figures from the drug maker's interim financial statement. Sales revenue grew 21% year-on-year to 569.8 million levs. The drug maker generated 65% of its sales revenue on the Bulgarian market, 33% from exports to Europe and 2% from exports to other countries. Sales in Bulgaria grew by an annual 10%, while exports to Europe increased 56% on the year. Sopharma held a 3.5% market share in terms of sales revenue in Bulgaria, according to data from the company. Its major competitors in Bulgaria during the review period were Novartis with a 7% market share, Roche - 6%, Actavis - 5% and Glaxosmithkline - 4%.

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