Slovenian drugmaker Krka reports 16 pct jump in Q1 group net profit (updated)

Krka dd Novo Mesto

23/05/2018 08:17

(Adds details, background)
    LJUBLJANA, May 23 (Reuters) - Slovenian generic drugs
producer Krka  KRKG.LJ  reported a 16 percent jump in
first-quarter net profit to 49.4 million euros ($58.08 million)
due to higher sales and cost cutting.
    Sales rose by 5 percent to 338.3 million euros, while costs
fell by 3 percent, the company said in a statement on Wednesday.
    It said Scandinavia saw the highest growth of sales of its
prescription drugs among Krka's large markets with an increase
of 37 percent, while the Czech Republic rose 25 percent and
Croatia grew 17 percent.
    It added total sales of prescription drugs were up by 6
percent while sales of non-prescription products increased by 11
percent.
    It confirmed its target to achieve 2018 net profit of 153
million euros on sales of 1.3 billion euros, with sales growth
of at least 5 percent each year until 2022. 

($1 = 0.8505 euros)

 (Reporting by Marja Novak, editing by Louise Heavens)
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))