Alkaloida To Exceed Expectations

The Hungarian pharmaceutical company, Alkaloida, is expected to surpass expectations for its 1994 performance. The company is forecasting that turnover will be around 10.5 billion forint ($95.5 million), which is ahead of original projections. Operating profit will be around 1.5 billion forint, pretax profits are expected to come in at 1 billion forint and net profits should be 700 million forint.

Alkaloida's financial manager Laszlo Szabo has indicated that the company will use some of its profits this year to pay off some short-term debts and to repay further debts from the proceeds of privatization in 1995 and 1996.

Next year, 340 million forint of profit reserves will be offered as shares to employees. There will be a 60% stake in the company on offer through a private placement, according to local reports.