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Egis Predicts Revenue Rise

Hungarian drugmaker Egis expects revenues to rise 4 to 6 percent at constant currencies in the year to October 2013 as strong growth in the Commonwealth of Independent States  and Russia offsets falling sales at home.

"It is hard to predict revenue growth for next [fiscal] year in forints because you would have to have the philosopher's stone to know where the exchange rates will be, but on a constant currency basis we expect 4 percent to 6 percent expansion [to be] reachable," chief financial officer Csaba Poroszlai said at a news conference Tuesday.

On Monday, Egis posted a 121 percent rise in quarterly net profit year on year as rising exports offset a fall in domestic revenues following regulatory changes.

(Reuters)

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