Terapia posts encouraging results for the first half-year

Pharmaceutical company Terapia Cluj-Napoca posted a 60% increase in net profits on the first six months of the year, up to 72.8 billion lei, while sales went up by more than 50%.

Half-year figures are slightly below budget forecasts, as net profits for the first semester had been estimated at 73.83 billion lei. After releasing the financial data, Terapia shares took a slightly increasing trend on the stock exchange to 1,220 lei, by 0.82%.

Turnover for the first semester amounted to 304.4 billion lei, against the level of 201.4 billion lei registered over the same period last year. Operational profit for the period January-June came at 89.5 billion lei.

The exports operated by the Cluj-Napoca based company over this period amounted to 94.3 billion lei (4.8 million dollars), standing for almost one third of the company’s total sales. Over the same period, Terapia invested 22.3 billion lei, mainly in upgrading the dry conditioning and the calcium pantothenate sections.

The company does not currently hold any overdue debts to the state budget or to special funds. The total revenues of the company went up to 372.4 billion lei, while total expenditures stood at 281.7 billion lei.

For the year 2000, the pharmaceutical company is planning to attain gross profits standing at 164 billion lei and total revenues amounting to723.6 billion lei, against turnover of 643.6 billion lei. Moreover, for 2000 Terapia officials are planning to make 67.5 billion lei investments.

At the end of June, Terapia had some 1,450 employees. Starting on November 1, Terapia will pay to the shareholders entered in the company register until April 3, gross dividends for this year worth 80 lei per share, out of which 72 lei/share net dividends for legal persons and 76 lei/share for natural persons.

Terapia Cluj-Napoca has a share capital standing at 306.6 billion lei, divided into shares with the face value of 1,000 lei. The main shareholders of the company are Romanian Investment Company Cyprus (which holds 20% of stock), Romanian Investment Fund (with a stake of 14.57%), Romferchim (17.95%), Labrador Partner LP (with 5.26% of stock), as well as the consortium made up of Broadhurst Investments Ltd., Broadhurst Investment Romanian and Lindsell Enterprises Ltd., with 5.99%.

The company is specialised in the production of basic pharmaceutical products (drugs for humans and animals), wholesale trade with pharmaceutical and chemical products, domestic and international goods transportation.