Romanian pharmaceutical company Zentiva Bucuresti, which is part of French group Sanofi, posted a 39 percent increase in sales in the first quarter of 2014 compared to the same period last year, to EUR 22.7 million. The company’s net profit was up 2.7 percent, to EUR 3.17 million, according to the company’s quarterly report.

Zentiva expects sales to grow 8.5 percent this year, to EUR 77.4 million, according to the company’s budget. Net income should go up to EUR 10.6 million in 2014, which is an 18.6 percent increase on last year, which was almost EUR 9 million.

Zentiva will distribute dividends worth EUR 6.7 million from last year’s profit, starting May 29. Sanofi holds 78 percent of Zentiva shares.

Andrei Chirileasa, andrei@romania-insider.com