Faes Farma reported a decent set of Q1 17 results, albeit with a more moderate sales growth than the previous quarters (in line with management’s cautious FY17 guidance). Total revenue was up 6.7% to €60.8m, with Bilastine remaining the key driver, offset to an extent by the continued weakness in Portugal and the animal nutrition business. Despite increased R&D efforts, profitability remained strong with EBIT and net profit registering a growth of c.14% (to €12.6m) and 15%
22 Jun 2017
Relying on M&A to revive momentum
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Relying on M&A to revive momentum
Faes Farma, S.A. (FFEA:FRA) | 0 0 2.0% | Mkt Cap: 765.7m
- Published:
22 Jun 2017 -
Author:
Jyoti Prakash -
Pages:
3
Faes Farma reported a decent set of Q1 17 results, albeit with a more moderate sales growth than the previous quarters (in line with management’s cautious FY17 guidance). Total revenue was up 6.7% to €60.8m, with Bilastine remaining the key driver, offset to an extent by the continued weakness in Portugal and the animal nutrition business. Despite increased R&D efforts, profitability remained strong with EBIT and net profit registering a growth of c.14% (to €12.6m) and 15%