Slovenian drugmaker Krka revises first-half profit slightly higher (updated)

Krka dd Novo Mesto

26/07/2018 08:09

(Updates with quote, details)
    LJUBLJANA, July 26 (Reuters) - Slovenian generic drugs
producer Krka  KRKG.LJ  revised its first-half net profit
slightly higher on Thursday and said it was on track to meet its
full-year targets. 
    Krka, Slovenia's largest listed company with a market
capitalisation of about 1.9 billion euros, said group net profit
totalled 101.7 million euros ($119 million) in the first half of
2018. That was 11 percent higher than a year earlier and
slightly more than 101.4 mln euros in a preliminary estimate
released by Krka in early July.  urn:newsml:reuters.com:*:nL8N1U137X
    Sales rose to 680.5 million euros from 655 million in the
first half of 2017, Krka said in a statement.
    It also confirmed its earlier full-year profit forecast of
153 million euros on sales of 1.3 billion euros. It still
expects sales to increase by at least 5 percent per year on
average by 2022, as it forecast previously. 
    "Our priority focus by 2022 will be European markets, China
and the markets of Middle Asia," it said.
    At present Eastern Europe is Krka's largest market,
accounting for 32 percent of its sales. However, the company is
suffering due to depreciation of the Russian rouble which caused
sales in Russia to fall by 2 percent in the first half when
measured in euros while they were up by 12 percent when measured
in roubles.

 ($1 = 0.8522 euros)

 (Reporting By Marja Novak; Editing by Susan Fenton)
 ((Marja.Novak@thomsonreuters.com; +386-1-50588505, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))