Business expansion of Galenika-Fitofarmacija in the first six months - Profit of RSD 1,1 billion

(Photo: fitofarmacija.com)

Zemun-based Galenika Fitofarmacija announced excellent results for the first six months during where a two-digit increase rate of achievement was generated and thus the end result, as broker company Wisebroker reports.

Consolidated company profit in the first six months exceeded 3 billion dinars which is an increase of 12,2% compared to the same period last year. Company business profit jumped by almost 15% to RSD 997,1 m, while net profit partially and due to payment collection of previously written off claims jumped by 15,3% to RSD 1,1 billion.

As "Wisebroker" reports, the company has high seasonal activity so major part of the result is generated in the first half of the year. Business plan for current year plans profit of RSD 4 billion and net profit of RSD 822,4 m. Shares of Fitofarmacija, as of the beginning of the year, have been generating increase in value 20%, and at the last price of RSD 2.000 company market capitalization totals 5,28 billion dinars (EUR 43,8 m).