Zentiva's sales up 11.9% but profits fall 13.4%

Czech Republic-based drugmaker Zentiva NV says that its net profits for the first quarter of 2006 declined 13.4% to 510.5 million Czech Republic koruna ($22.7 million), representing earnings per share of 13.37 koruna, due it says to increased sales and marketing investments and higher interest costs.

Despite the decline in net profits, the firm reported that it had achieved an 11.9% increase in its sales, which reached 3.18 billion koruna in the period. The company adds that this was composed of a 21.2% increase in prescription sales and 35.1% growth in revenues from its consumer health care business.

In addition, the group says that the quarter has seen sales increase across some of its regional markets, including a 41.8% expansion in Poland, a 119.7% increase in turnover from its activities in Russia and 1,457.7% growth in Romanian product sales. Revenues from sales in its home territory fell 16.6% to 1.1 billion koruna.