Slovakofarma reports net earnings of 224 million Sk at end of 3Q98

Slovakofarma Hlohovec, Slovakia's biggest pharmaceuticals producer, earned a net consolidated profit of 224 million Sk ($6.2 million) over nine months of this year, which is 53 million Sk up on net profit for 1H98. Before-tax profits were 399 million Sk ($11.08 million) on sales of 3.591 billion Sk ($100 million).

Slovakofarma's net profit last year was 344 million Sk, down 169 million Sk from 1996. Sales in 1997 were 4.57 billion Sk. The company's commercial plan for 1998 counts on consolidated sales of 5.5 billion Sk, and consolidated earnings are planned at 550 million Sk. Investments, including leasing, are to swallow up to 400 million Sk.

Slovakofarma is the largest, oldest, and most important pharmaceuticals company in Slovakia, and its domestic market share is 15%. It is one of the six largest pharmaceuticals companies in central and eastern Europe.

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