Decrease in Sales and Net Profit for Sopharma AD
Pharmaceutical company Sopharma AD experienced a 39% decrease in net profit to 22.3 million BGN for the first half of 2024 compared to 36.3 million BGN for the same period in 2023, as reported by the company and published through the Bulgarian Stock Exchange AD.
Sales Decrease
Sales of products decreased by 9% on an annual basis to 113.6 million BGN. In absolute terms, the decrease was 10.9 million BGN.
Expenses and Strategies
The company is now looking at ways to reduce expenses and increase sales in order to improve its financial performance for the next reporting period.
Financial Report for the First Half of 2024
The company’s revenues have increased by 4.8 million leva, or 17% on an annual basis, reaching 33.5 million leva for the first half of 2024.
Employee Statistics and Sales Performance
In 2024, the average number of employees at “Sofarma” is 1742, compared to 1720 employees in 2023.
Sales of products in Bulgaria for the first half of 2024 amount to 47.1 million leva, showing a 2.5% increase. In other European countries (mainly in Eastern Europe), sales decrease by 19.1% annually to 52.8 million leva. Sales in Russia decline by 19.7% and in Ukraine by 17.4%.
On the markets outside Europe, sales increase by 3.6% to 13.6 million leva for January-June 2024. Growth is seen in…
Increasing External Services Costs
Costs for external services have increased by 5.4 million BGN on an annual basis to 25.5 million BGN. The biggest change is seen in advertising and marketing services, which have increased by 3.3 million BGN, and in consulting services, which have increased by 2.2 million BGN.
Dividend Distribution Decision
On June 28, 2024, the regular general meeting of shareholders of “Sofarma” decided to distribute a gross dividend to shareholders in the amount of 0.09 BGN per share.
Pharmaceutical Company’s Price Increase
The pharmaceutical company’s books have increased by 8.49% in the last 12 months to 5.88 BGN per share.
Dividends Distribution Announcement
Investors are pleased to hear that dividends of 0.99 lv. per share have been distributed, leading to an increase in value.
Disclaimer
This information is provided for informational purposes only and is not a recommendation for buying or selling securities.
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