(Updates with quote, details)
LJUBLJANA May 11 Slovenian generic drugs
producer Krka on Thursday reported first-quarter group
net profit of 42.7 million euros($46.45 million)versus 40.2
million a year earlier, showing the benefits of higher sales and
favourable currency exchange movements.
Sales rose to 321 million euros from 300.9 million, the
company said in a statement. The biggest sales increase was in
the Russian Federation, Krka's largest single market, where they
were up by 31 percent to 73.8 million euros.
The company also confirmed its earlier plan to increase
sales to 1.22 billion euros this year versus 1.17 billion in
2016 and to achieve a profit higher than last year's 108.4
million euros, which was hit by price erosion and depreciation
of some Eastern and Central European currencies.
"We plan to increase the number of employees by 4 percent
(this year)," said Krka, which employs about 11,000 people at
Krka, which is Slovenia's largest listed company with a
market capitalisation of 1.7 billion euros, plans to increase
the volume of sales on average by at least 5 percent per year in
the years to 2020 and to remain an independent company.
($1 = 0.9192 euros)
(Reporting by Marja Novak; editing by Jason Neely and Jane