Richter earnings exceed expectations
Image by gedeonrichter.com
Listed pharmaceutical Gedeon Richter beats analyst expectations on ample second-quarter revenue and earnings, according to business daily Világgazdaság.
According to the VG consensus, analysts expected revenue of HUF 143.5 billion, while the pharmaceutical company achieved HUF 155.9 bln, 13.6% more than in the reference period. The gross margin was 56.6%.
The group spent HUF 27.7 bln on pharmaceutical marketing, 12.6% more than a year ago, and research and development expenses increased by a similar amount to HUF 16 bln. Based on all this, the operating profit also improved considerably, increasing by 34% to HUF 36.4 bln, although the experts expected it to be HUF 28.2 bln.
Seeing the development of foreign exchange effects, it could be enveloped that the second quarter could be unprofitable in terms of finances, minus HUF 6.1 billion in the end.
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