Pharmsynthez boosts earnings 36% in 2010
ST.PETERSBURG. April 6 (Interfax) - OJSC Pharmsynthez boosted net profit 35.7% in 2010 to 19.064 million rubles, the pharmaceuticals developer said in a report.
Sales revenue grew 20.5% to 275.288 million rubles, cost of sales - 9.7% to 154.556 million rubles, operating profit - 150% to 41.953 million rubles and pretax profit - 330% to 27.041 million rubles.
Short-term receivables almost doubled to 135.711 million rubles from 64.21 million rubles during 2010, while short-term payables decreased to 77.541 million rubles from 79.944 million rubles.
Pharmsynthez held an IPO on the MICEX on November 24, 2010, when it placed 22 million additional shares of 30% of increased charter capital at 24 rubles per share. The company raised 528 million rubles with the IPO.
Its biggest shareholders pre-IPO were the international fund Trust (75%) and the company's board chairman, Dmitry Genkin (25%).