The Czech Republic's Medicamenta

Medicamenta, a drugs producer in the Czech Republic, has announced thatit achieved net profits of 13.2 million koruna ($425,806), and revenues of 1.79 billion in 1996, according to the CTK news agency's Business News. Revenues were 129 million koruna lower than in 1995. The company accounts for 6% of the country's pharmaceuticals market.

Medicamenta said that profits also declined and that this was a result of increasing costs and write-offs. However, the firm said that its financial position stabilized last year.

This year, Medicamenta, which employs around 340 staff, expects to post gross profits of 25 million koruna on sales of 2 billion koruna.