Slovenian drugmaker Krka reports 6.2 pct rise in first-quarter profit (updated)

Krka dd Novo Mesto

11/05/2017 08:00

(Updates with quote, details) 
    LJUBLJANA, May 11 (Reuters) - Slovenian generic drugs 
producer Krka  KRKG.LJ  on Thursday reported first-quarter group 
net profit of 42.7 million euros($46.45 million)versus 40.2 
million a year earlier, showing the benefits of higher sales and 
favourable currency exchange movements. 
    Sales rose to 321 million euros from 300.9 million, the 
company said in a statement. The biggest sales increase was in 
the Russian Federation, Krka's largest single market, where they 
were up by 31 percent to 73.8 million euros. 
    The company also confirmed its earlier plan to increase 
sales to 1.22 billion euros this year versus 1.17 billion in 
2016 and to achieve a profit higher than last year's 108.4 
million euros, which was hit by price erosion and depreciation 
of some Eastern and Central European currencies.  urn:newsml:reuters.com:*:nL5N1GF3LQ 
    "We plan to increase the number of employees by 4 percent 
(this year)," said Krka, which employs about 11,000 people at 
present. 
    Krka, which is Slovenia's largest listed company with a 
market capitalisation of 1.7 billion euros, plans to increase 
the volume of sales on average by at least 5 percent per year in 
the years to 2020 and to remain an independent company. 
     
     
 
 
($1 = 0.9192 euros) 
 
 (Reporting by Marja Novak; editing by Jason Neely and Jane 
Merriman) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: KRKA RESULTS/