Strong first-half 2017 for Italy's Recordati

28 July 2017

Italian drugmaker Recordati (RECI: MI) has posted a strong set of financial results for the first half of 2017, underlining the continued growth of the group, with revenues and profitability increasing significantly.

From an opening of 36.00 euros, and a high of 37.34 euros, the company’s shares closed at 36.02 euros on Thursday following the announcement.

Consolidated revenue is 650.9 million euros ($759.6 million), up by 10.7% compared to the same period of the preceding year. International sales grow by 9.2%. Earnings before interest, taxes, depreciation and amortization (EBITDA), at 34.4% of sales, was 224.0 million euros, an increase of 19.1% over the first half of 2016 and operating income, at 31.2% of sales, was 203.2 million euros, an increase of 19.4%.

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