July 26, 2018 / 7:11 AM / 2 months ago

UPDATE 1-Slovenian drugmaker Krka revises first-half profit slightly higher

(Updates with quote, details)

LJUBLJANA, July 26 (Reuters) - Slovenian generic drugs producer Krka revised its first-half net profit slightly higher on Thursday and said it was on track to meet its full-year targets.

Krka, Slovenia’s largest listed company with a market capitalisation of about 1.9 billion euros, said group net profit totalled 101.7 million euros ($119 million) in the first half of 2018. That was 11 percent higher than a year earlier and slightly more than 101.4 mln euros in a preliminary estimate released by Krka in early July.

Sales rose to 680.5 million euros from 655 million in the first half of 2017, Krka said in a statement.

It also confirmed its earlier full-year profit forecast of 153 million euros on sales of 1.3 billion euros. It still expects sales to increase by at least 5 percent per year on average by 2022, as it forecast previously.

“Our priority focus by 2022 will be European markets, China and the markets of Middle Asia,” it said.

At present Eastern Europe is Krka’s largest market, accounting for 32 percent of its sales. However, the company is suffering due to depreciation of the Russian rouble which caused sales in Russia to fall by 2 percent in the first half when measured in euros while they were up by 12 percent when measured in roubles. ($1 = 0.8522 euros) (Reporting By Marja Novak; Editing by Susan Fenton)

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