Farmacol posts 5.8% sales growth in H1 2010

2010-09-08

Farmacol reported a 5.8% y-o-y increase in group turnover in the first half of the year, to PLN 2.66bn (€649m). Group net profit surged by 43.6% y-o-y to nearly PLN 38.5m (€9.7m).
In its half-yearly report, Farmacol stated that its positive sales result was achieved thanks to sales generated by Cefarm Bialystok, which the company acquired in Q3 2009. The main growth driver were wholesale sales, which represented nearly 90% of all sales and amounted to PLN 2.3bn (€580m) while retail sales were at PLN 27m (€6.8m).
As Pharma Poland News reported previously, Farmacol invested substantially in its logistics base including warehouses in Rogoznica near Rzeszow, in Poznan, Kielce and Szczecin. In the remainder of the year Farmacol aims to continue to expand its market share but will also keep a strong focus on improving profitability.