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Russian Pharmacy 36.6 posts Q2 underlying net loss
Russian drugs retailer Pharmacy Chain 36.6 on Thursday reported a second-quarter underlying net loss of 155.5 million roubles ($5.18 million), marking an improvement on its year-ago performance.
For the second quarter of 2008, the company -- which has around 1,100 pharmacies -- posted an underlying net loss of 447.7 million roubles, excluding forex effects and one-offs.
This year second-quarter revenue fell 14.2 percent to 5.6 billion roubles, while underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 611.9 million roubles from 220.8 million roubles a year ago.
Revenue at the company's retail segment fell 21.4 percent to 4.1 billion roubles against a 12.8 percent sales growth at its generic drug unit, Veropharm, to 1.4 billion roubles.
Russia's consumer sector has been hard hit as the country slipped into its first recession in a decade, with millions losing jobs or adjusting to salary and working hour cuts.