BUDAPEST Feb 5 Hungarian drugmaker Richter
flagged a decline in revenues for 2014 in euro terms
on Wednesday, due largely to exchange rate effects, adding that
its operating profit margin would also retreat somewhat from
last year's levels.
In 2013, Richter earned revenues of 1.18 billion euros, up
4.8 percent from the previous year. Its operating profit margin
came in at 13.8 percent of revenues.
"It is not a joy when we have to say our revenue is expected
to shrink, however, exchange rate developments have a
significant role in this," Chief Executive Erik Bogsch told a
news conference. He did not specify the extent of the decline.
Bogsch said the company expected its 2014 operating profit
margin to drop to 12-13 percent of revenues due to high sales
and marketing costs and research and development spending.
(Reporting by Gergely Szakacs. Editing by Jane Merriman)