Slovenian drug firm Krka's first-half profit rises (updated)

Krka dd Novo Mesto

24/07/2014 11:52

(Adds quotes, details, background) 
    LJUBLJANA, July 24 (Reuters) - Slovenian pharmaceutical 
company Krka  KRKG.LJ   KRK.WA  said first-half group net profit 
rose 6 percent year-on-year to 106.6 million euros ($143.6 
million), due to higher sales and favourable currency movements. 
    It confirmed revenue figures released earlier in July, which 
showed sales rose by 0.4 percent to 599.4 million euros. 
    "The Russian rouble, the Polish zloty and the Romanian leu 
appreciated in the second quarter," Krka said on Thursday. "This 
resulted in positive exchange rate differences on our books, 
which mainly neutralised the negative effects of downward 
foreign exchange trends witnessed in the first quarter." 
    Krka said it had repaid all long-term loans in 2013, so 
"changes of reference interest rates no longer have an impact on 
the group's financial expense". 
    The company stuck to its forecast for 2014 - made in 
November - for full-year profit of 172.8 million euros, 
unchanged from 2013, and for sales to rise to 1.25 billion euros 
from 1.2 billion last year. 
    The number of its employees rose by 2.5 percent in the first 
six months of this year to 10,298. 
 
 
 (Reporting By Marja Novak; Editing by Zoran Radosavljevic and 
Pravin Char) 
 ((Marja.Novak@thomsonreuters.com)(+386-8-205-6369)(Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: KRKA PROFIT/