Fitofarmacija profitability continues to grow – Profit of RSD 1.2 billion in first half of 2016

Zemun-based producer of pesticides and other plant protection products, Galenika Fitofarmacija, reported a mild income growth and a jump in profitability in the first six months of the current year.

Fitofarmacija had an income of RSD 3.1 billion, mostly thanks to local market sales of RSD 2.9 million.

The operating income, thanks to a reduction of inventories and lower material expenses, jumped by 10.3% to RSD 1.1 billion, whereas the net profit increased by 7.7% to RSD 1.2 billion, Wisebroker reports.

The company`s management reported the business plan in early 2016, which envisaged a drop in net profit by 5.6% to RSD 830.9 million, but the current results indicate that this scenario might be avoided.

Fitofarmacija have reached a historic maximum of RSD 3,000 this week and the company`s market capitalization amounts to RSD 7.8 billion (EUR 63.2 million) at the latest price of RSD 2.949.

GALENIKA - FITOFARMACIJA a.d. Zemun

production of pesticides

production of plant protection applications