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Ethical Drugs, Medical Equipment Lift Indofarma Back to Profit

Theindonesiatoday.com - State-owned pharmaceutical company PT Indofarma (INAF) Tbk posted net profit of Rp20.7 billion in nine months of 2011 against net loss of Rp31.8 billion in the same period of 2010 on strong sales growth and improved margins.

The company reported sales revenue of Rp695 billion in nine months of 2011, surged 39% from the same period last year. Ethical drugs surged 41% to Rp389 billion, while medical equipments jumped 45% to Rp125 billion. Domestic sales soared 41% in the period, while export slashed 32%.

Indofarma then booked operating profit of Rp49 billion against operating loss of Rp15.88 billion in nine months of 2010.

Government plans to consolidate Indofarma into Kimia Farma (KAEF), another state-owned pharmaceutical company, next year. (Theindonesiatoday.com)

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