French pharmaceutical concern Roussel Uclaf posted turnover for the first nine months of the current fiscal year of 9.5 billion French francs ($1.8 billion), up 8.7% on the like, year-earlier period. Consolidated net profit fell 21.1% to 316 million francs and comparable net profit was down 24% to 331 million francs.
The decline in profits was said to have been brought about by increased financial charges, the positive effect of foreign exchange risk coverage in 1990, which did not occur in 1991, and business operations carried out in 1990, which in 1991 should not occur until the fourth quarter.
The company estimates that if the US dollar remains at its current rate, profits should be higher than the previous estimate of a decline of 8%, compared with 1990.
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