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Home Industry News Meda publishes half-year report

Meda publishes half-year report

11th August 2008

Meda has published its financial report for the first half of 2008, reporting a continued expansion of the company alongside strengthened profitability.

Group sales at the company reached 5,195 million Swedish kronor (434 million pounds), a 38 per cent increase over the same period last year.

EBITDA for January to June 2008 rose by 47 per cent on the comparable period in 2007 to 1,871 million Swedish kronor, equating to a 36.3 per cent margin.

Operating profit rose 65.4 per cent to 1,350 million Swedish kronor while profit after tax reached 624 million Swedish kronor, an increase of 46.5 per cent.

Earnings per share increased from 1.87 Swedish kronor in the first half of 2007 to 2.41 Swedish kronor.

“Meda further improved its margins during H1,” the company said.

“Generally good sales of the company’s most important products in key markets, combined with effective cost control, enabled Meda to boost profitability.”

It added the recent acquisition of Nordic pharmaceutical company Recip during the first quarter of 2008 was successfully integrated into the firm, while the acquisition of Ellem was consolidated into the company from the start of the second quarter.

Last week, Meda announced the acquisition of the European pharmaceutical business from US pharmaceutical company Valeant.

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