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Egis forecasts 12%c increase in revenue

Hungarian drug company Egis forecasts a 12% increase in unconsolidated revenue to HUF 107 billion (€401.99 million) for the company's business year ending on September 30, Egis Deputy CEO László Marosffy said on Thursday.

Marosffy said that Egis targets a 1%-2% increase in unconsolidated revenue and a 5% increase in domestic sales-revenue for the company's 2009-2010 business year.

Egis targets a 3%-6% increase in export revenue to CIS countries in the company's current business year and a 8%-9% increase in the company's 2009-2010 business year.

Export revenue to central and eastern European countries is expected to increase 5% in the current business year and 8% in the 2009-2010 business year.

Export revenue to western countries is expected to rise 30% in the current business year and fall by 30% in the following twelve months.

Marosffy remarked that during the company's current business year, Egis has engaged in a significant amount of cooperative manufacturing, which entails a smaller margin, though greater volume. Marosffy indicated that Egis does not plan such transitory cooperative production during its 2009-2010 business year.

Marosffy noted that the company's annual forecasts are calculated on forint/dollar rate on June 30. (MTI-ECONEWS)