Fitofarmacija (FITO)

​Galenika Fitofarmacija (FITO), plant protection applications producer, reported FY 2016 numbers that showed further growth of the company’s business. The company reported near RSD 4bn in annual sales for 2016, up 3.2% y/y, while operating profit came in at over RSD 1bn, up 15% y/y, due to jump in sales of own branded products, which increased profitability. Net profit was increased by only 4.3% y/y due to higher amount of written of receivables vs. a year ago. Management was expecting 5.3% ...