Ropharma 4Q 2011 preliminary results
Raiffeisen Capital & Investment - 1 February 2012
Pharmaceuticals retailer and distributor Ropharma (RPH) released its preliminary 4Q 2011 results with sales up 16% yoy to RON 103.9 mn. On the costs side, merchandise expenses rose in line with sales to RON 85.7 mn, while personnel costs augmented by 15% yoy to RON 9.3 mn, on higher headcount, as during 4Q, RPH acquired several pharmacies.
Gains from the revaluation of current assets, probably receivables, of RON 0.5 mn vs. revaluation losses of RON 5 mn during 4Q 2010, helped RPH to post an operational profit of RON 2.3 mn vs. operational losses during 4Q 2010. Bottom line also returned on positive territory at RON 1.9 mn.
Over 2011, RPH reported sales of RON 385 mn, up 9% yoy, above the Romanian pharmaceutical market growth of 7.5% yoy. Higher costs with the new acquired pharmacies turned the net profit down 3% yoy to RON 10.5 mn.
Source: http://www.rciro.ro
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