Pliva announces first-quarter financial results

Pliva has announced its financial results for the first quarter of the 2007 fiscal year, with its figures set out in line with international financial reporting standards.

For the period ending March 2007, the company generated revenues of HRK 1,924 million (179.7 million pounds), up from HRK 1,736 million for the same quarter last year.

These revenue figures came off the back of a 14 per cent rise in sales to HRK 1,880 million for the period, with the company reporting double-digit growth in a number of international markets, including those in the US and UK, as well as the Czech Republic, Slovenia and Ukraine.

Pliva claims that this rise in sales exceeded the drop of HRK 200 million the company saw in revenues of azithromycin during the quarter.

“Overall profitability was significantly positively impacted by intragroup product sales to Barr, Pliva’s parent company, as well as lower operating expenses,” the company reports.

Consequently, the firm reported a net income of HRK 374 million for the first three months of the year.

Last month, Pliva saw a rise in sales for the 2006 fiscal year, but recorded a decrease in overall revenue over the 12 months to 532 million pounds.