November 22, 2018 / 8:39 AM / 18 days ago

UPDATE 1-Slovenia's Krka reports 10 pct rise in profit in Jan-Sept period

* Sees 2019 group profit of 172 mln euros

* 2019 sales seen at 1.4 billion euros (Updates with quote, details)

LJUBLJANA, Nov 22 (Reuters) - Generic drugmaker Krka , Slovenia’s largest listed company by market capitalisation, reported a near 10 percent rise in net profit in the first nine months of the year on the back of higher sales.

Group net profit reached 120.8 million euros ($137.76 million) in the January to September period, the company said on Thursday, up from 110.1 million a year before. Sales climbed 5 percent to 971.9 billion euros.

“Jan-Sept sales reached the highest value in that period in Krka’s history,” the company said. Sales abroad represented 93 percent of the total, it added.

It said 2019 group profit is expected to reach 172 million on sales of 1.4 billion euros. This year both profit and sales are expected to “be somewhat above” plans, according to which profit would reach 153 million euros on sales of 1.3 billion.

Krka also said it plans to increase sales on average by at least 5 percent per year till 2022.

Sales in Eastern Europe, which is Krka’s largest market, rose by 6 percent to 287.6 million in the first nine months of 2018. Sales in Southeastern Europe were up by 14 percent, while the number of employees rose by 4 percent from the end of 2017. ($1 = 0.8769 euros) (Reporting By Marja Novak; Editing by Jan Harvey)

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