Antibiotice Iasi reports revenues up 10% yoy in Q1

Revenues of drug maker Antibiotice Iasi (ATB) rose 10 percent in the first quarter to 63.92 million lei from prior-year period, as business increased 19 percent, according to financial results sent to the bourse, NewsIn informs.

The company booked total revenues of 57.92 million lei in the first three months of 2008.

Expenses inched 3 percent to 51.04 million lei on the similar period of last year.

The drug maker reconfirmed the results previously announced at the beginning of April. Thus, the net profit rallied 50 percent in the first three months to 10.56 million lei and business advanced 19 percent to 57.65 million lei.

The company has a share capital of 45.49 million lei, divided into 454.9 million shares at a face value of 0.10 lei. The majority owner is the state assets recovery body AVAS which controls a 53.02 percent stake. Financial company SIF Oltenia (SIF5) holds a 10.10 percent chunk.


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