Grifols publishes financial results for first nine months of 2006

Grifols has published its financial results for the first nine months of 2006. The company reported a 23.7 per cent increase in sales compared to the same period last year to 482 million euros (325.1 million pounds). Net profit increased by 5.2 per cent to 28.4 million euros.

The company reported that of all its operations the bioscience division was “the best performer”, attributing its success to an increase in sales of factor VIII and rising prices of immunoglobulin intravenous in the US.

Other parts of the company experiencing growth included the diagnostic division, which had an increase in turnover of 8.8 per cent compared to the same period in 2005 and the diagnostic division, with growth of 8.6 per cent.

“The results obtained in the first nine months of 2006 reflect Grifols’ international strategy, specifically in the US market, which currently accounts for 36.7 per cent of the group’s sales,” the company said.

It added that Grifols’ holding company intended to expand through the construction of new plants at its Los Angeles-based industrial complex.

For the 2005 financial year, Grifols reported a 15 per cent increase in turnover to 524 million euros.