Protek's first half profit falls 18.5 pct to 399 mln rbls

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Russia's largest pharmaceuticals holding company Protek saw its first half 2011 net profit down 18.5 percent year-on-year to 399 million rubles ($13.90 mln) to IFRS, the firm said on Monday.

Russia's largest pharmaceuticals holding company Protek saw its first half 2011 net profit down 18.5 percent year-on-year to 399 million rubles ($13.90 mln) to IFRS, the firm said on Monday.

Revenue rose 4.5 percent in January-June this year to 47.5 billion rubles.

Gross margin rose 0.8 percent to 6.3 billion rubles, while operating profit amounted to 461.3 million rubles in the first six months of this year, almost flat on the same period in 2010.

Company results are strongly influenced by seasonal factors with the core part of revenue gained in September-December, when there are many cases of colds and flu, Protek said.

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