Biofarm results, in line with analysts' expectations

Analysts on the capital market consider preliminary results reported by Biofarm Bucharest to be in line with expectations. On Monday, the company announced an increase in turnover and in operating profit of 18.6% and 27.4% respectively. “Results reported by Biofarm are roughly within the company’s and our own expectations,” says Dorin Boboc, analyst with the brokerage company Raiffeisen Capital & Investment. Sales of the pharmaceuticals manufacturer stood at 29 million RON (8.2 million euros) in the first six months of the year, with the growth being generated by the launch of new products, the higher presence on the market of the products in the company’s portfolio, as well as to the increase in the volumes offered on the market, both in Romania and on the foreign markets, according to the Biofarm management. “The company has budgeted a turnover worth 62 million RON for the whole year, which, I think, can be achieved, given the season specificity of this sector, with a bigger demand for products in the first and the last quarter of the year,” believes Boboc.