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Pharmacy Chain 36.6's H1 net profit soars
Pharmacy Chain 36.6 reported an upsurge in its consolidated net profit under International Financial Reporting Standards (IFRS) to $49.5m in the first half of 2006 from a $2.5m net loss a year earlier.
Consolidated sales grew 61 percent to $217.6m in H1 2006 compared to the same period in 2005. The company attributes the rise in its net profit to the successful completion of an IPO of a 30 percent stake in its pharmaceuticals division, Veropharm, last April.
The group's consolidated gross profit advanced 53.9 percent to $78.8m in January-June 2006. The company's expansion in the regions has led to a decrease in its gross profit margin from 37.9 percent in H1 2005 to 36.2 percent in 2006. Pharmacy Chain 36.6's consolidated EBITDA remained practically unchanged (up 0.5 percent), equaling $9.2m.