Biotest reports significant growth in first quarter of 2012

Biotest has published its financial results for the first quarter of 2012, during which it experienced significant growth and strategic success.

The company's net sales for the period rose to 107.7 million euros (86.08 million pounds), up from 106.5 million euros in the same period of 2011, while earnings before interest and taxes rose by 14.3 percent to 10.4 million euros.

Most of Biotest's sales during Q1 2012 came from its stable core plasma proteins business, which experienced positive developments, while the company adopted a strong focus on core operations.

The 2012 fiscal year is also the first in which Biotest is adopting its new three-segment operational structure.

For the year as a whole, the firm expects to achieve annual sales growth of between three and five percent.

Professor Dr Gregor Schulz, chairman of the management board at Biotest, said: "We can look back on a gratifying development in business. Thanks to our new segmental structure, we will in future be able to exploit additional synergies."

This comes after Biotest experienced year-on-year growth of 2.3 percent in 2011, which was achieved despite difficult market conditions.