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UPDATE 1-Hungary's Richter Q1 net profit jumps, beats forecast
May 9, 2017 / 5:02 AM / 7 months ago

UPDATE 1-Hungary's Richter Q1 net profit jumps, beats forecast

(Adds detail, share performance)

May 9 (Reuters) - Richter Gedeon Vegyeszeti Gyar Nyrt

* Q1 net profit 19.8 billion forints ($69.59 million) versus 11.6 billion a year ago, and 15.8 billion in analyst poll by business news website

* Q1 revenues 112.7 billion forints compared with 89.3 billion a year ago, and 104.1 billion in survey

* Domestic sales inch lower, sales surged 44.4 pct in company’s biggest market - Russia; price hikes and gains in rouble currency compared with euro helped boost income

* Sales to European Union up 24.6 pct, U.S. revenues nearly triple, boosted by $8.9 mln royalty income from anti-psychotic medicine Vraylar

* Q1 operating profit margin 13.9 pct compared with 16.3 pct a year ago

* Sales and marketing expenses up by 12.8 pct year-on-year, lifted in part by higher spending in Russia and ex-Soviet bloc

* Research and development expenses rise by 3.4 pct y/y, boosted by ongoing U.S. clinical trials

* Richter shares have gained 9.5 pct over the past three months, according to Thomson Reuters data, outperforming 0.8 pct rise in the blue chip index Further company coverage:

$1 = 284.52 forints Reporting by Gergely Szakacs; Editing by Sherry Jacob-Phillips

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