Slovenian drugs firm Krka predicts flat profits this year (updated)

Krka dd Novo Mesto

19/11/2015 12:23

(Updates with quote, details, share price) 
    LJUBLJANA, Nov 19 (Reuters) - Slovenian's generic drug 
producer Krka  KRKG.LJ  expects its net profit this year to be 
unchanged from the 166.2 million euros it made in 2014 while 
sales are expected to be down by around 2 percent, the company 
said in a statement on Thursday. 
    It also predicted its net profit next year would be just 
over 160 million euros on sales of around 1.2 billion euros but 
said it would continue to look for acquisitions to take it into 
new markets and products. 
    Sales this year, the company said, will fall by about 2 
percent from 1.2 billion euros in 2014, mainly due to lower drug 
prices and the drop in value of the Russian rouble and the 
Ukrainian hryvnia. 
    Group net profits in the first nine months of the year were 
up 5 percent at 133.3 million euros, buoyed by a 34-percent rise 
in sales in Western Europe offsetting the deterioration in the 
value of Russian sales. 
    "Sales in the Russian federation, which is Krka's largest 
single market, were up by 7 percent compared to a year ago when 
expressed in roubles but down by 21 percent when expressed in 
euros," the company said. 
    Krka shares were up 0.7 percent at 63 euros by 1145 GMT, 
valuing the group at about 2 billion euros. 
 
 (Reporting by Marja Novak; Editing by Greg Mahlich) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: KRKA RESULTS/