Bulgarian pharma groups, agriculture funds seen as best performers for 201019.01.2011

Analysts expect pharmaceutical companies and property funds investing in agricultural land to be the most profitable Bulgarian businesses for 2010, according to a poll conducted by daily Dnevnik among several experts.
Export-oriented and manufacturing companies are also expected to report growth, as they displayed considerable improvement in their performance along with the first signs that the economy in developed countries had started to recover from the crisis.
"The rise in exports comes in response to the recovery of European markets and increased investment demand," said Ivo Tolev, managing partner at Ultima Capital Management.
However, companies focused on the domestic market are unlikely to book satisfactory figures for 2010, given the continuing decline in consumption, which still gives no signs of recovery. According to Nikolay Kichukov at investment brokerage Elana Trading, these companies will most likely report disappointing sales.
One of the best performers among export-oriented companies, significantly improving its performance last year, was aluminium producer Alcomet. The manufacturer is expected to end 2010 with a revenue of EUR 117 million, translating into a 17% rise in sales volume and a 43% growth in value, Alcomet`s executive head, Huseyin Yorucu, has told Dnevnik earlier.
Among domestic-focused sectors, drug companies are seen to emerge as the most profitable entities, as they saw a rise in sales despite the economy`s contraction. This week, drug distributor Sopharma Trading booked a 14% annual increase in sales to over BGN 400 million.


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