Weifa triples its net income for 2016

Norwegian healthcare company Weifa ASA has reported net income of €0,9 million for Q4 2016, which is an increase compared to the same period the previous year. In 2015, the comapany had €0,3 million loss. 

Weifa has more than tripled its net income for year 2016, as it posted €2,03 million for whole 2016, compared to the net income for the 2015 of €0,65 million.

The Norwegian company had record fourth quarter and full-year revenues in 2016 on higher sales of the main categories: pain relief, cough & cold products and nutraceuticals, as well as the addition of the Asan portfolio, an intimate care brand that Weifa acquired from Orkla in 2015.

The company said that it expects to launch Asan in Finland in 2017 after signing a distribution agreement with Midsona Finland Oy in the fourth quarter.

A further strengthening of Nordic position is planned in 2017 after securing the rights to commercialise a new product line based on a patented fixed-combination pain management solution containing ibuprofen and paracetamol, the company said.

Kathrine Gamborg Andreassen, Weifa’s CEO said: “We remain focused on our growth strategy. The new distribution and licensing agreements we have signed in recent weeks will drive Weifa’s expansion in the Nordic region. At the same time we remain committed to strengthening the established brands and developing new innovative products.”

Weifa’s board has proposed a dividend of €0,17 per share to be paid in June 2017.