October 31, 2012 / 7:46 AM / 5 years ago

Grifols 9-month profit up over four-fold, reduces Spain exposure

MADRID, Oct 31 (Reuters) - Spanish pharmaceutical firm Grifols said its nine-month net profit had increased more than four times year-on-year on Wednesday, boosted by its acquisition of U.S. firm Talecris in June of 2011.

Grifols, the best performing stock on Spain’s bluechip index over the past year, reported a net profit of 197 million euros ($255.66 million) and revenues of 1.96 billion euros, in line with analyst expectations.

The Barcelona-based company, a market leader in North America, said it continued to reduce exposure to its crisis-hit home market Spain, which now accounts for just 8 percent of its turnover. ($1 = 0.7705 euros) (Reporting by Clare Kane; Editing by Tracy Rucinski)

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