Sopharma Trading Announces Quarterly Increase In Net Profits

Bulgarian drug trader Sopharma Trading [BUL:SO5] said that its consolidated net profit edged up to 4.1 million levs ($2.3 million/2.1 million euro) in the first half of 2019 from 3.9 million levs in the same period of 2018.

Sopharma Trading’s operating revenue grew to 467.2 million levs in the January-June period of 2018 from 437.8 million levs in the comparable period of 2018, the company said in an interim financial statement on Thursday.

In the second quarter alone, Sopharma Trading posted sales of 225.2 million levs, of which 59.93% from sales of drugs to pharmacies, 19.94% – to hospitals, and 3.03% from sales of medical devices.

The company’s operating expenses increased to 462.2 million levs in the first six months of 2019 from 433.0 million levs in the like period of 2018, as cost of goods sold rose to 418.7 million levs from 394.2 million levs.

Sopharma Trading’s assets amounted to 459.4 million levs at the end of June, up from 418.4 million levs a year earlier.

At the end of June, Sopharma Trading was majority owned by local drug trader Sopharma [BUL:3JR], which held a 72.97% stake.

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