Pharmaniaga Q1 profit rises

New Straits Times - - Business -

KUALA LUMPUR: Pharmaniaga Bhd’s first-quar­ter profit ended March this year rose marginally to RM18.92 mil­lion from RM18.38 mil­lion a year ago.

This was on the back of a 10.6 per cent rise in rev­enue to RM618.29 mil­lion, from RM559.20 mil­lion pre­vi­ously.

The com­pany’s In­done­sia busi­ness posted a turn­around with a profit of RM900,000 af­ter reg­is­ter­ing a RM1 mil­lion loss a year ago.

This was due to higher con­tri­bu­tions from im­proved op­er­a­tional ef­fi­cien­cies and re­duced fi­nan­cial costs.

As at March 31, the group’s earn­ings per share was 7.3 sen, while net as­sets per share stood at RM2.10.

“We started off the year with stable per­for­mance. We saw higher de­mand from govern­ment hos­pi­tals and the pri­vate sec­tor busi­ness,” said chair­man Tan Sri Lodin Wok Ka­marud­din in a state­ment yes­ter­day.

“There was also better con­tri­bu­tions from our over­seas op­er­a­tions.

“We aim to tap op­por­tu­ni­ties in the do­mes­tic and in­ter­na­tional mar­kets.”

Pharmaniaga board of directors has de­clared an in­terim div­i­dend of four sen per share to be paid on June 7 to share­hold­ers on the reg­is­ter as at May 31.

Pharmaniaga chair­man Tan Sri Lodin Wok Ka­marud­din

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