Pharmaceutical company Krka has reported a 23% increase in its half-yearly net profit of SIT 12.4bn (EUR 51.74m). The figure would have been even higher had Krka not increased its provisions.
The record half-year profit comes on the back of a 25% rise in the group's revenues, which stood at SIT 82.3bn (EUR 343.43m) in the first half of this year.
Meanwhile, the company's operating profit grew 45% to SIT 19bn (EUR 79.3m). According to Krka chairman Joze Colaric, net profit would have been even bigger had the group not increased its provisions by SIT 4bn (EUR 16.7m) because of pending patent infringements lawsuits against it.
In the first six months of this year, the group exported products worth SIT 70bn (EUR 292.1m), which represents 85% of total sales. On the Slovenian market, it sold SIT 12.2bn (EUR 50.9m) worth of products.
Colaric told the press on Thursday that the biggest growth in sales was registered by Krka's subsidiary in Poland, Krka Polska. Sales in Russia also saw robust growth, meaning that the eastern European market accounted for nearly 30% of all of Krka's sales.
Moreover, Colaric reiterated today that Krka was not up for sale. The group is financially sound and has up to 100 products in the pipeline, he stressed.
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