Egis continues excellent performance
Wednesday, May 11, 2005, 11:23
Hungary?s second largest publicly traded pharmaceutical company Egis Rt posted Ft 2.67 billion pre-tax profit on Ft 16.7 billion sales revenue between January and March, which is the second quarter of the company?s business year. Although considerably lower than the previous quarter?s Ft 4.37 billion record that was due to the end-of-year panic buying, pre-tax profit increased 42% year-on-year, while revenues were 3% higher than a year earlier. At 7% turnover growth, the company performed well in domestic markets, however its success was mostly driven by sales in Eastern Europe and CIS countries, where sales revenue rose by 27% and 64%, respectively. The gross margin on sales jumped above 61%, which the company attributes to a favorable change in the geographical distribution of its sales structure and changes to its product portfolio.