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Egis Q4 profits slip 21%

Hungarian drug maker Egis, majority-owned by France's Servier, had net profit of HUF 4.73 billion in the second quarter of its business year started October 1, down 21% from the same period a year earlier as revenue fell faster than costs, the company's consolidated IFRS report shows.

Profits were well over the HUF 3.80 billion estimate of analysts in a poll by

Earnings per share fell to HUF 607 from HUF 768. Revenue fell 8.0% to HUF 28.71 billion.

Costs of sales fell just 5.2% to HUF 13.15 billion, causing gross profit to drop 10.3% to HUF 15.56 billion.

Administration and distribution costs inched down 2.8% to HUF 11.44 billion.

Operating profit dipped 7.5% to HUF 4.01 billion. (MTI - Econews)