Recordati results show Italian firm fighting effects of competition
Cardiovascular and rare disease specialist Recordati (RECI: MI) has published first quarter results showing the Italian firm took in 366.5 million euros ($434 million) sales, up 7.2% from the same period last year, in line with analysts’ expectations.
The Milan-based firm, which operates mainly in Europe, reported net income of 86.6 million euros, up over 10% from the same period last year.
The company’s stock price took a beating earlier this year after annual results showed it had nearly doubled its debt over the course of 2017, to 381.8 million euros.
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