Apex’s net profit jumps 62% in Q3

The Sun (Malaysia) - - SUNBIZ -

PETALIG JAYA: Apex Health­care Bhd net profit for the third quar­ter ended Sept 30, 2016 jumped 62% on higher rev­enue and profit con­tri­bu­tion from the group’s as­so­ci­ate, Straits Apex Sdn Bhd, en­gaged in the con­tract man­u­fac­tur­ing of orthopaedic de­vices.

The group made a net profit of RM8.74 mil­lion, com­pared with RM5.38 mil­lion for the same pe­riod in 2015. This was on 11% higher rev­enue of RM142.96 mil­lion, com­pared with RM128.27 mil­lion.

The prospects for the group’s core busi­nesses of man­u­fac­tur­ing, mar­ket­ing and dis­tri­bu­tion of phar­ma­ceu­ti­cals and con­sumer health­care prod­ucts re­main pos­i­tive in the mar­kets the co­many op­er­ate. Ef­fort is con­sis­tently di­rected at re­search and devel­op­ment of new group brand prod­ucts, pen­e­tra­tion of new in­ter­na­tional mar­kets and im­prov­ing op­er­a­tional ef­fi­cien­cies in do­mes­tic mar­kets. How­ever, the ex­pec­ta­tions of sub­dued eco­nomic growth, in­creased com­pe­ti­tion and per­sis­tent weak­ness of the Malaysian Ring­git against ma­jor for­eign cur­ren­cies con­tinue to con­trib­ute to a chal­leng­ing business en­vi­ron­ment.

Net profit for the nine month pe­riod ended Sept 30, 2016 was 28.2 mil­lion, com­pared with RM20.43 mil­lion for the same pe­riod in 2015. This was at­trib­uted to the group recog­nis­ing RM2.73 mil­lion as its share of profit from Straits Apex Sdn Bhd as com­pared to recog­nised losses of RM 2.74 mil­lion in the same pe­riod last year.

This was on 11.3% higher rev­enue of RM437.12 mil­lion, com­pared with RM392.61 mil­lion for the same nine-month pe­riod in 2015.

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