Antibiotice Iasi, 7.02 million lei in Q1 net profit

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In Q1 Antibiotice Iasi registered a net profit of 7.02 million lei, by over 66 pct less than in the same period of the year before, when the figure had been 20.71 million lei, informs a company release (one euro trades for 3.66 lei)
 
On March 31, 2008, the company’s pre-tax profit was 8.38 million lei and the net gain stood at 7.02 million lei. On the same date, the net turnover was 48.55 million lei, up 17 pct against the similar period of 2007.
 
These outcomes allowed Antibiotice to keep among the top 10 pharmaceutical companies on the local market and strengthen business relations with its more than 40 partners on the international market.
 
"The exchange rate increase to about 3.7 lei per euro in Q1 would have required a price correction index of some 11 pct, that would have allowed Antibiotice to make a supplementary profit of 3.42 million lei, up 41 pct against the reported pre-tax profit," said Antibiotice director general Coca Cascaval.
 
The company announced a 128-pct increase in exports in Q1 and a turnover of 3.17 million dollars on this segment.
 
Antibiotice currently exports the active substance Nystatin and more than 35 end products, running business relations with over 40 states.
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