The company’s profit is estimated to €2.49 million, some 13 times lower compared to previous estimates (€30.83 million), according to an analysis by Erste Bank. The profit for 2009 is foreseen to reach €6.8 million, while the previous prognosis was €40.17 million.
A&D Pharma is listed on the London Stock Exchange (LSE). Its shares declined significantly in the past year, amid international financial markets turmoil. “Although the share prices stabilized, showing that investors got used to last year’s H2 disappointing results and minor revival of the first six months of 2008, we do not expect to see a complete revival soon,” Erste analysts said.
As far as sales are concerned, the report says they are likely to amount to €515.62 million this year, lower than the €564.29 million previously estimated. For 2009, sales are set to amount to €609.5 million, instead of €701.65 million foreseen initially.
