Record-breaking results of Polska Grupa Farmaceutyczna
In Q4 2005 the net profit of PGF reached PLN 16.7 million and was higher by 157% than in the same period of the preceding year. The operating profit reported in the last quarter of the year increased from PLN 10.5 million in 2004 to PLN 26.6 million in the last year. At the same time, Polska Grupa Farmaceutyczna brought down the operating costs ratio from 7.88% to 7.55%. For entire year 2005, the operating costs ratio was 7.99%, which is only slightly higher than one year before.
- As expected, theQ4 results already show the impact of the restructuring in the entities acquired in 2004. This means that during the last year PGF carried on with implementing further initiatives to boost the future potential of the Group, while maintaining the systematic performance improvement trend observed over the recent years. The record sales performance and the net result are the best evidence of our efforts – said Jacek Szwajcowski, the President of PGF’s Management Board. – Another indication of good condition of the company is that our accounts receivable are kept under control and the operating cash flows have increased – added Jacek Dauenhauer, the CFO of PGF. The days receivable ratio in 2005 fell to 39.6 days, which is a very low level in the industry. The operating cash flows went up by PLN 15.6 million reaching PLN 75.4 million.
In 2006, Polska Grupa Farmaceutyczna plans to maintain high, two-digit growth dynamics of the net profit. – At the same time we want to continue expanding the network of pharmacies working with us under Dbam o Zdrowie program and use its distinctive logo. We also developing tools that will help these pharmacies to achieve even more distinctive position in the market in terms of their value proposition for the patients – informed Szwajcowski.
