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Grifols H1 profit climbs 7.8% YOY

Grifols SA said adjusted group profit for the first half grew 7.8% compared to the prior-year period.

Adjusted group profit was €355.9 million, up from from €330.2 million in 2017.

Adjusted EBITDA for the first half was 614.2 million, down from €663.9 million in the same period last year.

The Spanish biotechnology company, which produces plasma-derived medicines, said net revenue decreased year over year to €2.12 billion from €2.19 billion.

Revenues from the company's bioscience division rose 6.6% at constant currencies year over year to 1.69 billion, while sales from the company's diagnostic division rose 2.2% at constant currencies year over year to €339.4 million.

First-half research and development net investment rose 9.3% from the prior-year period to €141.3 million from €129.3 million.

Reported group profit increased 14.8% on an annual basis to €319.0 million, or 47 cents per share, from €277.9 million, or 41 cents per share.