July 31, 2014 / 4:45 AM / 3 years ago

Hungary's Richter Q2 net profit rises 45.3 pct y/y

BUDAPEST, July 31 (Reuters) - Hungarian drugmaker Richter reported on Thursday a 45.3 percent increase in second-quarter net profit, beating market expectations.

Net profit for the three-month period was 13.8 billion forints ($59.41 million), up from 9.5 billion a year ago and exceeding the median expectation of 12.7 billion in a survey of analysts by financial news website portfolio.hu.

Richter said, however, that revenues from its key market Russia fell by 25.3 percent in euro terms year-on-year in the first half, while sales to Ukraine were down by 23.2 percent. ($1 = 232.27 Hungarian Forints) (Reporting by Gergely Szakacs; Editing by Anupama Dwivedi)

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