Antibiotice Iasi profit up 50% in Q1

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Drug producer Antibiotice Iasi reported net profit of 10.563 million lei in Q1, 2009, up 50 percent as against the one of the same period one year ago, according to financial information sent to the Bucharest Stock Exchange (BVB).

The gross profit was of 12.873 million lei compared to 8.383 million lei in the first three months of 2008.

The net turnover amounted to 57.646 million lei, up 18.7 percent as against January-March 2008.

The company’s revenues totaled 63.917 million lei (up 10 percent) and expenditures stood at 51.044 million lie (up 3.1 percent).

On March 31, Antibiotice Iasi reported overall debts worth 107.572 million lei, of which 106.119 million lei had to be paid within one year. The claims which the Iasi-based company had to retrieve stood at 152.596 million lei.

The company’s shareholders are AVAS (State Assets Resolution Authority) with a 53.017- percent stake, other shareholders with a 36.8873-percent stake and SIF Oltenia with 10.10 percent.

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