Omega Pharma forecasts profits will equal last year

BELGIAN health products distributor Omega Pharma yesterday forecast improvements in Russia and southern Europe in the second-half of 2011 and a profit margin this year at least as high as in 2010.

The company, which sells non-prescription products such as wart treatment or sun tan lotion to pharmacists, said yesterday it reiterated its outlook, but there was a slight change.

It said that it expected full-year turnover would be €927m (£819m), an increase of eight per cent, whereas previously the company had said turnover would be “at least” that amount.

Omega reported first-quarter sales rose 7.8 per cent to €217.8m.

The average forecast was for an 8.4 per cent rise in first-quarter sales, with a surge in France.

Sales in core market Belgium rose by 12.7 per cent and in France by 14.1 per cent.