Pliva reported a net loss of 107 million kuna in the first nine months of this year, as stated in the financial report published by the Zagreb Stock Exchange. Pliva’s operating profit in the first nine months amounted to 6.9 million kuna.
In the same period last year, Pliva achieved a net profit of 842.4 million kuna. Total revenues for Pliva in the first nine months of this year amounted to 3.53 billion kuna, which is 1.39 billion kuna or 28.3 percent less compared to revenues of 4.93 billion kuna in the same period last year. Sales revenues fell by 17.5 percent to 3.32 billion kuna, but increased by 8 percent when excluding revenues from internal sales to Barr and from operations in Italy and Spain sold in the last quarter of 2007. This increase, as stated in the announcement accompanying the financial report, was primarily due to growth in Pliva’s key markets in Russia, Poland, and Germany. Royalty revenues increased by 27.7 percent to 32 million kuna, while other revenues fell by 79.4 percent to 179.7 million kuna. Pliva’s selling and distribution costs in the first nine months of this year decreased by 2.8 percent to 997.9 million kuna. General and administrative expenses fell by 31.7 percent to 364 million kuna, while research and development costs increased by 10 percent to 364.4 million kuna. (H)
