Gross profit of Antibiotice Iasi, up 17 pct

Pharmaceutical company Antibiotice Iasi reported a preliminary gross profit on 2009 of 15.6 million lei, up 17 percent compared to the previous year, when it amounted at 13.4 million lei, according to a company release remitted to Bucharest Stock Exchange (BVB).

Turnover rose 2 percent over the reference period, from 215.8 million lei to 219.8 million lei. According to the medicine producer, the main focus the previous year was on the optimization of the finite product stocks sent to distributors, as well as in company storage, in order to cut financial resources imobilisation, leading to lower exploitation revenues by approximately 5 percent than the ones in 2008.

In exchange, the exploitation profit rose 5 percent, from 25.3 million lei to 26.7 million lei. Own capital value in 2009 advanced to 255.01 million lei, 3.3 percent higher than in 2008. Receivables value jumped by 46 percent in 2009, to 182.5 million lei as a result of an extended period for free medicine reimbursement, as well as for the compensated ones and those destined to hospital use. Last year the company launched investments in a new production facility, whose estimated value is of some 9 million euros, set to become operational in 2012.

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