Omega Pharma's 2007 net leaps 115%

Belgian group Omega Pharma has reported an 8% rise in turnover for 2007, which reached 792.5 million euros ($1.22 billion), resulting in a net profit of 154.8 million euros, up 115%. However, the earnings benefited to the tune of 100.0 million euros from the initial public offering of Arseus. Looking forward, Omega says it anticipates internal growth of 3%-7% in the current year, most of which will be achieved in the second half.

Omega Pharma Belgium was impacted by "less solid" sales of generic medicines, the firm said, which led to an overall decline in this market of 10% to 199.0 million euros. The French subsidiary, on the other hand, saw revenues rise 10% to 190.4 million euros, with good contributions from Star Brands XLS (slimming products) and Paranix (for head lice), among others. Omega Pharma Europe saw sales leap 19% to 399.9 million.

In the rest of the world, primarily from activities in central and eastern Europe, where Omega gained a direct presence from the January 2007 acquisition of Bittner Pharma, turnover leapt 42% to 157.2 million euros. Making a strong contribution to the results, were Bittner Balsem (strengthening tonic) and Aflubin (a resistance-enhancing supplement), which have joined Omega's existing brands such as Davitamon (vitamin), Bional (herbal, natural food supplements) and Paranix/Lyclear.