Neuca posts PLN 3bn sales in H1 2010

2010-09-03

Neuca, the leading Polish drug distributor, posted a 21% y-o-y increase in consolidated group revenues to PLN 3.09bn (€0.8bn) in the first six months of 2010. The company’s net profit, however, was down by 7.8% y-o-y and amounted to PLN 17.66m (€4.4m). In H1 2010 Neuca had a 31% share in the pharmacy wholesale market.
According to Piotr Sucharski, Neuca’s CEO, the company reaps the full benefits of its greater scale built up through a series of acquisitions and its expansion into new pharma and healthcare sectors. Mr. Sucharski attributes the development of Synoptis Pharma, the drug manufacturing arm of Neuca, an important role in company’s future revenue diversification. Group sales of Synoptis Pharma amounted to PLN 1.8m (€1.44m) in Q1 and PLN 1.7m (€0.42m) in Q2. In the second quarter of the year the company launched the fifth product under the Nursea brand; until the end of the year three more launches are scheduled.
Neuca has also created a shared services and IT centre that will centralise all back-office operations within the group, including finance, IT, administration, controlling, human resources and payroll. The unit, called Accedit, will also serve Neuca’s partner pharmacies. The group expects substantial efficiency gains from the integration of administrative and logistics functions. The process will involve a major reduction in non-core jobs at its various units, with plans to reduce group headcount by almost a half, to 1,400, by 2013.
In the future, Accedit is to provide services to external customers as well.