Slovenian drugmaker Krka Q1 profit jumps by 42% as sales rise

Updates with details, quote

LJUBLJANA, May 23 (Reuters) - Slovenian generic drugs producer Krka KRKG.LJ made a group net profit of 70.3 million euros ($78.4 million) in the first quarter of 2019 versus 49.4 million euros in the same period last year, Krka said in a statement on Thursday.

It said sales rose to 378.5 million euros, up from 338 million a year ago.

Sales in Eastern Europe, Krka's largest market, rose by 15%, while sales in Western Europe were 14% higher.

Krka also confirmed its goals for 2019, which were originally revealed in November, according to which profit is expected to reach at least 172 million euros - on a par with last year's level.

Sales are seen rising to 1.4 billion euros from 1.3 billion last year.

"The management will strive to exceed these goals," the company said in a statement, giving no further details.

Krka is Slovenia's largest listed company with a market capitalisation of 1.9 billion euros.

($1 = 0.8969 euros)

(Reporting by Marja Novak; Editing by Mark Potter)

((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters Messaging: marja.novak.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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