PTM posts 2% sales growth in H1 2010

2010-09-08

Pani Teresa Medica (PTM), the listed manufacturer of medical textile products, generated sales revenues of just over PLN 8.1m (€2.3m) in the first half of the year, which represents an increase of nearly 2% compared with the same period a year earlier. At the same time, net profit decreased by 21% y-o-y to a little over PLN 0.95m (€0.3m).
Revenues on sales of medical textile products fell by over 2.1% y-o-y over this period, to nearly PLN 5.9m (€1.7m), representing 72.5% of the total sales revenues. Sales of compression products were worth PLN 1.9m (€0.56m), slightly less than a year ago.
The positive topline growth was achieved mainly thanks to the contribution of PTM’s newly-created subsidiary, Megasenior, which specialises in the supply of everyday items (including some products offered by the parent company) to seniors via traditional and online distribution channels. It posted revenues of PLN 0.28m (€0.08m) in January-June.
The drop in net profit was attributed to higher prices of raw materials and to high cost of sales associated with promotional activities of Megasenior.