GOOD PROSPECTS FOR FRANCE'S BOIRON

French company Boiron is reinforcing its position as the world market leader for homeopathy products, and its prospects for long-term development are excellent, according to Ian Broadhurst and Alastair Kilgour of BNP Capital Markets.

Sales growth picked up significantly towards the end of the first half of this year and this looks likely to remain strong in the second half, the analysts comment, because of what had been an improving currency, a positive reimbursement background and, potentially, a more sensible domestic French competitive environment following the problems and change of ownership of its main competitor, Dolisos.

Net profits for 1993 are forecast by Messrs Broadhurst and Kilgour to rise 7.7% to 52 million francs ($8.8 million), and a further 9.6% to 57 million francs for 1994. Profit margins are said to be improving and the balance sheet is strengthening, according to the analysts, who recommend purchase of the company's stock.