Business News

Krka H1 Revenue Flat

Novo mesto, 03 July (STA) - Drug maker Krka posted sales revenue of just under EUR 600m for the first six months of the year, an increase of 0.4% year-on-year, the company revealed at Thursday's annual general meeting. Profit figures were not disclosed.

Exports account for the bulk of revenue, just under 94%, but the company's performance in its key markets varied.

In Eastern Europe, its biggest regional market, sales were up 5% to EUR 220.8m, whereas in Central Europe revenue was down 3% to EUR 130.2m.

A 3% drop to EUR 122.3m was also registered in Western Europe, while sales in Southeast Europe jumped 11% to EUR 75.3m.

Krka plans investments totalling EUR 164m this year and 20 projects are currently under way.

At the annual general meeting the shareholders confirmed the management's proposal for dividends of EUR 2.1 gross per share, an increase of 30% over the year before.

Dividend payments will thus total almost EUR 69m, while the remainder of the accumulated profit, EUR 110m, has been retained.

The shareholders also confirmed a proposal to reduce share capital with the withdrawal of 2.63 million treasury shares, which corresponds to 7.4% of all shares.

At the same time, the management has been given the green light to acquire additional treasury shares up to a total amount of 10% of the share capital.

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