Pharmaniaga Q2 net profit rises to RM9.28 mln

Pharmaniaga Bhd's net profit for the second quarter ended June 30, 2019 (Q2 2019) rose to RM9.28 million from RM5.39 million in the same period last year.

Revenue increased 3.3 per cent to RM601.89 million from RM582.73 million previously mainly attributable to stronger demand under its Indonesia division, it said in a filing with Bursa Malaysia yesterday.

For the first six months of the financial year ended Dec 31, 2019, the group posted a higher revenue of RM1.39 billion compared with RM1.20 billion in the same period last year, on the back of strong performances from both the concession and non-concession businesses.

In a separate statement, Pharmaniaga said in line with the group's commitment to enhance shareholder value, it has declared a second interim dividend of 2.5 sen per share, payable on Oct 11, 2019.

Managing director Datuk Farshila Emran said the group had also benefited from lower corporate tax expense, mitigating the impact of reduced contribution margins and higher finance costs.

“The group is poised to tap into growth opportunities as we expand our product portfolio to cater to evolving healthcare needs via our research and development drive.

“Moreover, strategic marketing initiatives will enable the group to reinforce our foothold in the private sector,” Farshila said.

She said the group would continue to step up its global presence, particularly in Indonesia which remains a key growth area.

“We will remain focused on continuous enhancements in our operations to ensure greater efficiency and cost optimisation, in order to propel the group's sustainable growth,” she said. - Bernama