Kurgan-based Sintez increases revenue by 12% at the end of the first quarter of 2019
Sintez JSC (a member of Marathon Group and Natsimbio) published financial statements for the first quarter of 2019. The revenue of the company grew by 12% compared to the same period last year and exceeded 2 billion rubles. At the same time, the net profit of the plant amounted to 285.1 million rubles which is almost 5% more than the net profit in 2018.
"We showed good growth rates in all activity areas in the first three months. We intend to reach an increase in production volumes on the basis of quantities by 23%, while revenue growth is expected to be more than 20%," Sergey Klykov, CEO of Sintez JSC, noted.
According to previous year results, the revenue of Sintez JSC grew by 16% and amounted to 8.5 billion rubles. The plant expanded its presence in the Turkmenistan pharmaceutical market where sales increased by 65% compared to 2017. There was also an increase in the supply of medicines and medical devices to Azerbaijan (+10%) and Kyrgyzstan (+7%). The overall export revenue of Sintez JSC in 2018 grew by 4% and amounted to 1.1 billion rubles.
It is to be reminded that Sintez JSC is one of the ten largest manufacturers of medicin devices on the basis of quantities in the Russian market. The company manufactured more than 240 million product units last year. The main manufacture and sales volume fell to the "powders for injections" group, as well as "ointments and gels" group.