COMPANIES ECONOMY INDUSTRY

Antibiotice Iasi exports up 21 pct in Q1

Antibiotice Iasi registered sales on foreign markets worth 7.1 million dollars in the first quarter of this year, 21 pct higher than in the similar period of 2016, according to data provided to the Bucharest Stock Exchange.

The exports’ rise was mainly due to the sale of finished goods, especially in the South-East Asia, the U.S. and Russia-CIS regions. The value of finished products’ exports increased by 44 pct against the first three months of 2016, and the main products being traded were the anti-infectives, the digestive tract and cardiovascular products.

As regards the sale of Nystatin active substance, the company strengthened its position by entering the U.S. market, a strategic market for Antibiotice Iasi in view of rendering the product profitable.

From January to March 2017, Antibiotice recorded a gross profit of 5.34 million lei, down 28 pct against the first quarter of 2016, as well as against the value of the income and expenditure budget due to the value of the claw back tax, higher by 37 pct (2.1 million lei) as compared to 2016 and by 30 pct as compared to the planned one.

The net profit amounted to 5.3 million lei, down 2 pct as compared to the first three months of 2016 and 15 pct as compared to the revenue and expenditure budget provisions.

The company has been listed on the Bucharest Stock Exchange (BVB) since April 1997 and its shareholders are the Ministry of Health -53.0173 pct, SIF Oltenia – 13.7620 pct and other shareholders – 33.2207 pct.

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