Profits Rise At Richter Gedeon In 1st Qtr

Richter Gedeon of Hungary recorded first-quarter 1996 gross profits of 3.3 billion forint ($21.4 million), up 48.1%, according to MTI Econews. Operating profits were 2.7 billion forint. The firm reported that net sales rose 46.3% to 9.4 billion forint, while operating costs fell 10.8%.

Income from patent fees and intellectual property was 307 million forint in the first quarter, with financial profits and exchange rate gains totalling 255 milion forint.

First-quarter domestic turnover rose 36% to 3.4 billion forint and exports were 6 billion forint, up 54.3%. In dollar terms, RG's exports to the Commonwealth of Independent States increased 10.3%, to eastern Europe 10%, and to other markets 45.5%. The sharp increase in sales to the CIS is attributed to RG's expanding sales network. It is also advertising heavily in the region.