75% sales growth for PZ Cormay in H1 2010

2010-09-01

PZ Cormay, the listed supplier and distributor of diagnostic reagents and equipment, posted PLN 30.8m (€7.7m) consolidated net revenues in H1 2010, up by a solid 75.4% y-o-y. At the same time the firm's net profit increased by 104.4% y-o-y to PLN 3.1m (€0.7m).
Domestic sales of the parent company amounted to PLN 5.5m (€1.4m), down by 1%. Meanwhile, export sales increased by 35% to 12.3m (€3.1m) chiefly thanks to the acquisition of Swiss haematology analysers manufacturer, Orphee and sales of PZ Cormay products to Orphee’s clients. The company also recorded 375% growth in Orphee's core business, i.e. distribution of haematology products. PZ Cormay has completed much of the planned restructuring of Orphee and is due to move production of Orphee’s reagents to Poland.