Romanian drug producer Biofarm sees 9.5% increase in net profit

Romanian drug producer Biofarm Bucuresti recorded a net profit of over EUR 5.2 million after the first nine months of the year, up 9.5% compared to the same period last year. The revenues recorded a slight decrease of 0.6% over the first nine months of 2015, reaching EUR 23.8 million. However, the company managed to make a higher operating profit, mainly due to lower costs. The operating profit reached EUR 5.3 million, up 13.9% compared to the first nine months of last year. The company’s total assets amounted to EUR 48.5 million at the end of September this year, up 1% year-on-year. The total debts dropped by 20.7%, to EUR 6.1 million. Biofarm is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 58.6 million. Its majority stakeholder is the investment fund SIF Muntenia, with a 51% stake. editor@romania-insider.com