Open Joint Stock Company "Sintez" has released its financial statements for the first six months of the year. The company's earnings amounted to RUB 3,403 million (against RUB 3,234 million in the same period of 2016), while its net profit increased 120% to RUB 672.3 million (against RUB 301 million in the same period of 2016).
The company's retails sales in the first half of 2017 increased 14% (over the same period in 2016) while the Russian retail sales market for the same product range (about 300 INN's) grew 8% in monetary terms (according to preliminary DSM figures).
The company achieved these results by cutting costs, improving its sales performance, broadening its cooperation with key business partners, and growing its exports. In the first half year, for instance, purchases by its major distributors doubled. JSC "Sintez" began expanding into new sales markets, and in particular began deliveries to Afghanistan (it exports to over 15 countries).
"The work done by the Sintez management team shows that impressive performance and truly recordbreaking results can be achieved even in a tough market," Marathon Group President Alexander Vinokurov said. "It confirms that the chosen strategy of plant development was right, and that this will surely bring us first place on the Russian pharmaceuticals market."