Slovenia's Krka 2019 preliminary group net profit up 39% (updated)

Krka dd Novo Mesto

30/01/2020 11:44

(Updates with quote, details, share price)
    LJUBLJANA, Jan 30 (Reuters) - Slovenia's generic drugs
producer Krka  KRKG.LJ  made a group net profit of 242.1 million
euros ($268.59 million) last year, 39% higher than in 2018,
boosted by higher sales, the company said, citing preliminary
unaudited figures.
    Sales rose by 12% to 1.49 billion euros, it added in a
statement on Thursday.
    The company also confirmed its November forecast according
to which net profit this year will reach about 210 million euros
on sales of 1.52 billion euros.
    It said sales in Eastern Europe, Krka's largest market, rose
by 17% in 2019 while the same growth was achieved in Western
Europe. The number of employees rose by 2.3% last year to reach
12,770 and is expected to increase by about 3% this year. 
    Krka also denied Romanian media reports, published earlier
this month, alleging graft at its Romanian unit.
    "Krka has instigated an internal investigation and has found
that allegations about the systemic corruption in Romania are
not justified," it said.    
    Full 2019 results will be published on March 19.
    Shares of Krka, Slovenia's largest listed company, rose by
4.31% to 77.4 euros after the news was released, pushing up the
blue-chip SBI index  .SBITOP  which gained 1.2%.   
($1 = 0.9014 euros)

 (Reporting By Marja Novak; editing by David Evans and Nick
Macfie)
 ((Marja.Novak@thomsonreuters.com;+386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))