Monday, September 17, 2007

A&D Pharma sees strong growth after 35 pct H1 net income rise; names new CFO

LONDON (Thomson Financial) - A&D Pharma Hldgs NV posted first-half pretax profit in line with its expectations at 14.0 mln eur, saying the performance demonstrates the strong underlying momentum in its businesses and that it sees strong growth in the second half of the year.

The Dutch holding company, which owns a pharmaceutical wholesale and retail business in Romania, also appointed Roger de Bazelaire chief financial officer with immediate effect. He replaces Florin Buligoanea, who will step down from his day-to-day activities after a transitional period ending Oct 31.

A&D Pharma said total sales for the six months to June 30 rose 35 pct on-year to 199.1 mln eur and that net income increased to 11.9 mln eur from 8.8 mln eur a year earlier.

'We continue to grow faster than the general pharmaceutical market, and expect to maintain this outperformance as we develop our existing businesses and look to expand organically and via acquisitions in both Romania and its neighbouring countries,' said CEO Dragos Dinu.

The company said ongoing healthcare system reforms will drive further growth in the Romanian market and that it is well-positioned to benefit from these developments.

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