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Phylaxia in the red again in 2005

Veterinary drug company Phylaxia Pharma Rt sustained losses of Ft 126.3 million (€502,600) in 2005 after closing 2004 with losses of Ft 119.4 million, according to the company's flash report prepared in accordance with International Financial Reporting Standards (IFRS).

. The consortium's operating losses rose to Ft 59.3 million in 2005, up from Ft 38.8 million in 2004. Phylaxia recorded a 321% gain in 2005 exports, though this increase was not enough to offset a 27% drop in domestic sales, resulting in a 15% overall decline in gross 2005 revenue to Ft 656.6 million. Phylaxia's 2005 export revenue of Ft 112.7 million constituted 17% of the company's total 2005 revenue, up from 3% in 2004. The company's domestic sales totaled Ft 543.9 million last year.