Independent audit confirms revenues of Bosnalijek in the amount of 109 million KM in 2009

Independent audit confirms revenues of Bosnalijek in the amount of 109 million KM in 2009

Independent audit of Bosnalijek d.d. (Bosnalijek) operations for 2009, along with the positive opinion of the auditors, confirmed that the total revenues of Bosnalijek amounted to 109,6 million KM, with annual growth of 2%. Net profit was 9 million KM, growing 9% year on year.

In Bosnia and Herzegovina we recorded sales of 69,9 million KM, matching the revenues recorded in 2008. In export markets leading region was Eastern Europe and Russia where we recorded annual growth of revenues of 36%, while in Southeast Europe our revenues grew 9% year on year. 

Total value of assets amounted to 173 million KM while total liabilities were 59,6 million KM. Company equity was value at 113,9 million KM having grown 6% on annual level.
Recorded results are in line with the Company plans for 2009. Company Management believes that throughout the year Bosnalijek showed ability to adopt to fast changing business environment, both on domestic and foreign pharmaceutical markets. Due to the effects of the global economic crisis, which is still present in its full intensity, Bosnalijek  Management expects that the business operations in 2010 will remain difficult. This will especially be felt in the reduced general liquidity caused by the reduced economic activity by both the real and financial sector.      

Full audited report on Bosnalijek operations for 2009 is available on Company web site.

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