Sopharma Trading’s AGM approved BGN 0.30 DPS
Sopharma Trading’s (SO5 BU) AGM approved BGN 0.30 DPS at the annual general meeting (AGM) held on June 17th 2016. This yields 5.39% at Friday’s close quotes. The ex-div day is June 29th, 2016.
Company’s CEO Dimitar Dimitrov said topline expansion in Serbia and pharmacy retail growth are the targets. He did not reveal any top line target details, but said that sales growth to compensate for the bottom line limits.
In Bulgaria, company already has 8 pharmacies with more to come and targets 30% of top line from own retail distribution. It will also tap on the digital market via the farma.bg online store. The company will enter the Serbian market with its exclusive portfolio – distributing products for international producers Aboca, Jamieson, SVR and US Pharmacia, as well as mother company Sopharma’s OTC portfolio. Dimitrov expects double digit growth for Sopharma’s approx. BGN 20m OTC portfolio that Sopharma Trading will be representing over the next couple of years.
Dimitrov also expects considerable hospital equipment investments due to the new hospital consolidation phase in Bulgaria with the entrance of Acibadem Group. Sopharma Trading is an exclusive partner for certain GE Healthcare equipment in Bulgaria.
In FY2015, Sopharma Trading booked BGN 603m sales, up 4.8% y/y, and BGN 12.2m net income, up 14.3% y/y.
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