April 22 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Monday that its sales revenue slipped by 11% on the year in the first quarter of 2024, mostly due to lower exports.
Revenue from export sales fell by 16% year-on-year in January-March, whereas sales on the domestic market tumbled 1%, Sopharma said in a bourse filing.
In March alone, Sopharma recorded a 24% annual drop in sales revenue. The company's export sales sank by 32% on the year, while domestic sales lost 8%.
As of 1500 CET on Monday, shares in Sopharma traded 0.66% lower at 6.00 levs ($3.27/3.07 euro) on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)