Hungary’s listed drugs maker Egis issued a profit warning last week as the consensus forecast of analysts in a Portfolio.hu poll considerably exceeded the company’s actual profit. Chief Financial Officer Laszlo Marosffy said the bulk of the HUF 2.5 billion difference was mainly caused by a HUF 1.8 billion headwind from the strong HUF, Portfolio Hungary reported. Over the quarter running July through September, Hungary’s second-largest drugs producer generated HUF 24.043 billion consolidated sales revenue, HUF 997 million operating profit and HUF 406 million net profit, while the respective consensus estimates were HUF 28.891 billion, HUF 3.419 billion operating profit and HUF 3.310 billion net profit. Differences between results and analysts’ anticipations are primarily caused by lower export sales compared to previous quarters as well as by the negative fourth quarter financial profit, Egis said. The latter is attributable to the year-end accounting of value loss of subsidiaries which do not operate with full capacity yet. Marosffy said that the main reason for difference between the expected and the actual net profit was probably that the analysts did take into consideration the losses of the company’s Russian and Turkish subsidiaries, although it could have been expected, based on the results that had been published in a quarterly report a year ago.