Grifols: nine-month operating profit up on bioscience growth

(CercleFinance.com) - Shares in Spain's Grifols rose by over 3% after the blood products maker said that its nine-month operating profit rose by 13.
5% to 1.07 billion euros, lifted by the contribution from its bioscience unit.

The Barcelona-based drug company said revenues grew by 14.5% to 3.7 billion euros, and by 9.7% excluding FX factors for the period.

The bioscience division continues to serve as the company's primary growth engine, with revenues up 13.4% (+8.4% excluding FX factors) to 2.9 billion euros.

In particular the main growth driver was robust demand for the group's plasma proteins, which jumped by 13.1% (+9.8% excluding FX factors).

Net profit reached 423.4 million euros over the first nine months of the year, down 9.6% from the same period last year, due to the evolution of interest rates and changes in accounting standards for leases.

Grifols' shares, which are one of the best-performing Spanish blue chip shares this year, having risen by 27%, were up 3.2% at 28.2 euros this morning, outpacing a 0.5% fall in the Spanish stockmarket.

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