Efficiency boosts Sicomed results

Sicomed Bucharest, the largest Romanian pharmaceuticals maker, has reported preliminary net profits of 4.8 million euros (195bn ROL) for 2004, up around 35% on 2003, due to improvements in manufacturing efficiency. Turnover increased 5%, slower than profits, to a total of 43.3 million euros (1,753bn ROL). “The sustained growth in Sicomed’s business was the result of efficiency improvements in resource management and of making internal company processes more fluid,” said Klaas Postema, Sicomed’s CEO. Sicomed’s gross profits last year reached 6.5 million euros (264bn ROL), up from the 5.1 million euros (193bn ROL) in 2003. “The economic indicators for the company show growth continuing this year as well, based on our development process,” added Mr Postema. The company plans to achieve a 64 million dollar (nearly 50 million euro) turnover in 2005 and to see its exports rise substantially. Sicomed made around 4 million euros in net profits for the first nine months of 2004, down 20% compared with the same period in 2003, which it put down to investments. ZF