Slovenian drug firm Krka's Q1 net profit rises 29.5 pct (updated)

Krka dd Novo Mesto

14/05/2015 12:36

(Updates with quotes, details, share prices) 
    By Marja Novak 
    LJUBLJANA, May 14 (Reuters) - Slovenia's Krka  KRKG.LJ  
posted a 29.5 percent rise in first-quarter net profit to 55.1 
million euros helped by financial gains from a strengthening of 
the Russian rouble between January and March, the drugs maker 
said on Thursday. 
    "The rouble's appreciation relative to its 2014 year-end 
value resulted in net foreign exchange gains which increased 
financial income," said Krka, which is Slovenia's largest listed 
company.  
    The average value of the rouble versus the euro remained 
more than 30 percent weaker than a year earlier, however, 
hurting revenue which fell to 289.3 million euros from 298 
million a year earlier.  
    Sales in the Russian Federation, which is Krka's largest 
market "rose by 1 percent in roubles but fell by 27 percent when 
expressed in euros," it said.  
    The company held to a 2015 forecast made in November which 
called for net profit in line with 2014's 166.2 million euros 
and sales of about 1.3 billion euros versus 1.2 billion last 
year. 
    Krka shares closed 0.36 percent higher at 67.84 euros on 
Thursday versus the blue-chip SBI index  .SBITOP  which gained 
0.95 percent.  
 
 
 (Reporting by Marja Novak; editing by Pravin Char and Jason 
Neely) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: KRKA RESULTS/