Egis stands by guidance for 4%-6% revenue growth in 2012/13

Telco

Hungarian drugmaker Egis, majority-owned by France's Servier, is standing by its guidance for revenue growth of 4%-6% in forint terms in the business year started October 1, CFO Csaba Poroszlai said at a press conference on Wednesday, after the company published an earnings report. Egis expects domestic turnover to fall while exports climb, Poroszlai said. The company is raising its projection for growth of sales of finished products to western markets, in euro, to 10%-15% from 5%-10% three months earlier, he added. Egis's net profit climbed 23.5% year-on-year to HUF 6.7 billion in the first quarter of its business year started October 1, the company said late Tuesday. Poroszlai attributed the strong results to higher revenue, efforts to keep costs down and favorable exchange rates.

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