Currency exchange rates hit Stada's six-month sales
This article was originally published in Scrip
Stada's sales in the first six months of this year were hit by weakened currencies, particularly in Russia, Serbia and the UK, and fell by 8% to €755.2 million. Its earnings before interest, tax, depreciation and amortisation decreased by 16% to €124 million and net profit was down by more than 20% to €48.3 million. Earnings per share reduced from €1.07 in the first half of 2008 to €0.82.