BioGaia AB Reports Strong Rise in Sales
Operating profit was SEK 23.4 million (14.1)2), an improvement of SEK 9.3 million (66%). Excluding foreign exchange effects, the increase was 99%1).
5/10/2011 --- BioGaia AB has reported in an interim report that net sales reached SEK 69.9 million (58.6) (January 1- March 31), an increase of SEK 11.3 million (19%). Excluding foreign exchange effects, the increase was 31%1).
Operating profit was SEK 23.4 million (14.1)2), an improvement of SEK 9.3 million (66%). Excluding foreign exchange effects, the increase was 99%1).
Profit before tax was SEK 25.6 million (18.1) 2), an increase of SEK 7.5 million (41%).
Profit after tax was SEK 18.5 (12.2) 2) million, an improvement of SEK 6.3 million (52%).
Earnings per share amounted to SEK 1.04 (0.71).
The period's cash flow from operating activities before changes in working capital was SEK 8.8 million (14.7). Total cash flow for the period was SEK 1.9 million (14.7). Corporate tax of SEK 18.4 million pertaining to the financial year 2010 was paid during the period. Cash and cash equivalents at 31 March 2011 amounted to SEK 148.5 million (112.3).
Key events in the first quarter of 2011
- BioGaia signs agreement with Cube Pharmaceuticals for the sale of its Oral Rehydration Solution with Reuteri in Greece.
- BioGaia's 50%-owned company TwoPac invests in a new facility in Eslöv.
The 50%-owned company TwoPac AB is consolidated as a group company with effect from 1 January 2011. TwoPac was previously reported as an associated company. If TwoPac had been consolidated in the previous year, operating profit for the corresponding period of last year would have been SEK 14.5 million, profit before tax would have been SEK 18.6 million and profit after tax would have been SEK 12.6 million. Earnings per share would have been unchanged.
