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Arseus sees 2014 profit margins rising after IT unit sale
August 5, 2014 / 6:05 AM / 3 years ago

Arseus sees 2014 profit margins rising after IT unit sale

BRUSSELS, Aug 5 (Reuters) - Belgian medical supplies group Arseus said on Tuesday it expected its 2014 profit margins to be higher than last year‘s, as the group divests its IT business to fully focus on its pharmaceutical supplies unit.

The group has made a string of divestments over the past quarters and said that its IT unit Corilus was now also being sold to fully focus on its Fagron unit, which makes ingredients for pharmacies to make bespoke medicines for patients, so called pharmaceutical compounding.

Fagron grew its core profit margins to 28.5 percent in the first half of 2014, from 24.5 percent last year, and saw its revenue increase by almost a third.

The group said it expected a core profit margin in 2014 of 26 percent after corporate costs for the company as a whole, above the 23.8 percent achieved in 2013.

In the first half core profit after costs rose 55.4 percent in the first half to 55.7 million euros ($74.77 million) ($1 = 0.7451 Euros) (Reporting by Robert-Jan Bartunek; Editing by Sophie Walker)

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