Richter reports Ft 37.6 bln profit in 2004
Monday, January 31, 2005, 00:00
Drugmaker Richter Gedeon Rt?s 2004 after-tax profit totaled Ft 37.6 billion after an 11.7% rise yr/yr, with Q4 alone accounting for Ft 11.35 net income, up 24% yr/yr. The spectacular result came in the face of market expectations of declining profit. In 2004, the sales revenues of the company increased at a more moderate rate of 4.3% to Ft 121.6 billion. The increase in sales figures was mostly due to rising exports to CIS countries and other EU states, with exports totaling $423.6 million, a 14.9% increase on the previous year. In contrast, Richter?s domestic sales did not rise significantly. The share of women?s health products has risen to 30% within the company?s sales.