Krka Group Reports 28% Jump in Half-Year Profit
The group around pharma company Krka generated revenues to the tune of EUR 469.3m in the first half of 2008, up 20% from the same period last year. Net profit rose 28% to EUR 81.1m, the group's chairman told the press in Novo mesto on Wednesday.
Joze Colaric said Krka was satisfied with the results. In the first half of the year, sales were up on all markets, with Central Europe leading the way. Sales there surged 22% to EUR 123.6m, Colaric said.
In Eastern Europe, Krka registered sales of EUR 119.4m, up 17%, while in Russia, Krka's largest single market, they amounted to EUR 78.5m, a 12% increase compared to the first half of 2007.
The biggest growth was meanwhile recorded in Western Europe and overseas markets, where sales surged by 46% to EUR 106.3m. In southeastern Europe, growth was moderate at 4% to EUR 68.7m.
In Slovenia, sales in the first half of the year increased after a period of stagnation, Colaric explained. Revenues increased by 2% to EUR 78.5m.
In the same period, investments amounted to EUR 73.3m, and Krka registered over 300 new products in its markets, Colaric explained.
At the end of the second quarter, Krka commanded the biggest share (14.5%) of the Slovenian market, which compares to about 8% for its closest rival.
Commenting on the recent flurry of takeover activities among the generics makers, Colaric said that independence ranked among Krka's key objectives for the 2008-2012 period.
There is strong interest in Krka, but there are few companies with financial capabilities to do that, Colaric said.
He added that after last year's acquisition of German generics maker TAD Pharma, and the purchase of minority stakes in two Chinese pharma companies, Krka was eyeing further targets, both in Europe and elsewhere.
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