Ropharma Posts 9-Month Profit

Nine months through the year, pharmaceutical distributor Ropharma - Brasov has reported a turnover of 58,054,876 RON, up from 42,119,308 RON in the corresponding period of 2007. The company also reported a net profit of 413,247 RON, up from net losses of 71,275 RON in the first nine months of 2007. The results were derived from a significant increase in operating revenues from 43,292,662 RON in 2007 to 59,208,353 RON in 2008, amid a decrease in financial expenses from 1,842,059 RON to 1,487,559 RON. "The 2.55 million RON increase in share capital made in the second quarter contributed substantially to the achievement of the indicators stated in the budget for this year," said Alin Radasanu, CEO of Ropharma. "We managed resources more efficiently, and that led to a 7% increase in financial revenue and a 24% decrease in financial expenses. This is a little unusual for these times, when the liquidity of a company is greatly influenced by the general macro-economic context," he added. The Ropharma Board recently called an Extraordinary General Meeting of Shareholders for 17 December to approve the takeover of Farmaceutica Aesculap, Medica - Bacau and Global Pharmaceuticals - Brasov. The shareholders will also discuss the disbandment of these companies and transfer of all their assets and liabilities to Ropharma. On the same occasion, Ropharma will issue new shares to reflect the increase in assets. Following this process, Ropharma"s share capital will increase from 3.9 million RON to 12.6 million RON.