Slovenian drug maker Krka reports 31.5 pct fall in profit (updated)

Krka dd Novo Mesto

02/03/2017 11:56

(Adds details) 
    LJUBLJANA, March 2 (Reuters) - Generic drug producer Krka 
 KRKG.LJ , Slovenia's largest listed company, reported a 31.5 
percent fall in 2016 group net profit on Thursday despite a rise 
in sales. 
    Net profit fell to 108.4 million euros ($114.1 million) from 
158.2 million while sales advanced to 1.17 billion euros from 
1.16 billion, it said in a statement. 
    "The decrease was due to major price erosions in most 
markets and the depreciation of certain Eastern and Central 
European currencies," the company said. 
    Krka, with a market capitalisation of 1.71 billion euros, 
said in November it expected its profit to rise in 2017 on sales 
of 1.2 billion euros.  urn:newsml:reuters.com:*:nL8N1DI30C  
    The company's shares traded at 52.15 euros at 1140 GMT, up 
0.33 percent from Wednesday's close. 
    Sales in Russia, Krka's largest market, increased 1 percent 
to 225.8 million euros, although were up 13 percent in roubles. 
 ($1 = 0.9500 euros) 
  
 
 (Reporting by Marja Novak and Maja Zuvela; editing by Jason 
Neely and Jane Merriman) 
 ((maja.zuvela@thomsonreuters.com; +387 33 295 485; Reuters 
Messaging: maja.zuvela.thomsonreuters.com@reuters.net)) 
 
Keywords: KRKA RESULTS/