KUALA LUMPUR (Feb 17): Pharmaniaga Bhd reported a net profit of RM85.48 million for the fourth quarter ended Dec 31, 2021, compared with a net loss of RM6.33 million in the same period of the previous year, on the back of higher revenue.
Revenue grew 12.16% to RM711.72 million from RM634.58 million, mainly attributable to positive growth across the group's concession, non-concession and Indonesian businesses, said Pharmaniaga in a filing with Bursa Malaysia.
On a quarter-on-quarter basis, the net profit was 71.52% higher than the RM49.84 million reported in the immediate preceding quarter, while revenue declined from RM2.13 billion.
The pharmaceutical group declared its fourth interim dividend of five sen per share, to be paid on April 5.
For the full year, the group’s net profit jumped to RM172.15 million from RM27.49 million in the previous year, underpinned by higher contributions from the logistics and distribution and manufacturing divisions.
Annual revenue surged 76.7% to RM4.82 billion from RM2.73 billion, largely due to the sales of Sinovac Covid-19 vaccines to the Ministry of Health and the private sector.
Moving forward, the group aims to maintain the growth momentum of its consumer healthcare segment and achieve double-digit growth in the current financial year ending Dec 31, 2022 by ramping up marketing for its consumer healthcare products.
“Pharmaniaga is optimistic that its outlook is bright as its strategies and initiatives are in place and global economic markets are expected to maintain positive growth in 2022," it said.
The group said it will continue to pursue avenues of growth to emphasise the research and development (R&D) of biopharmaceuticals, vaccines and insulins to bolster its product portfolio.
"The group has a large and capable R&D team to formulate its own generic pharmaceutical products every year, allowing the group to capture new markets,” it said.
Shares in Pharmaniaga finished one sen or 1.33% higher at 76 sen on Thursday (Feb 17), valuing the group at RM995.57 million.