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CORPORATE NEWS

Slovakofarma posts lower profit

Slovakia's largest drug producer, Slovakofarma a.s., said on April 9 its 1997 after-tax consolidated profit was 401 million crowns ($11.4 million), a 21.8-percent drop compared to 512.9 million crowns in 1996. The results were calculated according to international accounting standards, the company said, adding that revenues totaled 5.4 billion crowns and operating profit was 1.1 billion crowns. Slovakofarma has set its annual shareholders meeting for May 14. Earlier this year, the company said that in 1998, it expected to post a 550 million crown consolidated profit on revenues of 5.5 billion crowns.

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