KUALA LUMPUR(Nov 18): Pharmaceutical group Apex Healthcare Bhd's net profit for the third quarter ended Sep 30, 2014 (3QFY14) rose 13.8% to RM7.41 million from RM6.51 million in the same quarter a year ago, on better performances by its various divisions.

Group revenue in the quarter rose 20.5% to RM122.51 million versus RM101.68 million in 3QFY13, driven mainly by a 19% growth in sales from newly acquired distribution agencies in Singapore, which helped the group’s Singapore operations achieved economies of scale.

Apex also attributed its higher revenue to a 16% growth in the manufacturing and marketing division's revenue, on improved export and sales in Singapore, sustained  marketing in the Malaysian private sector, and good performance of its retail pharmacy outlet at City Square Mall, Johor Bahru.

Basic earnings per share (EPS) for the quarter improved to 6.3 sen in 3QFY14, compared to 5.53 sen in the same quarter a year ago.

For the nine months ended Sep 30 2014 (9MFY14), the group’s net profit grew 8.7% to RM24.43 million from RM22.47 million a year ago. Revenue expanded 20.4% to RM375.9 million versus RM312.24 million a year ago.

EPS for 9MFY14 rose to 20.78 sen compared to 19.13 sen in 9MFY13.

Apex share price closed at RM3.70 today, for a market capitalisation of RM433.44 million.