KUALA LUMPUR: Duopharma Biotech Bhd’s net profit for the second quarter ended June 30, 2022 improved by 5.98% to RM16.31 million compared with RM15.39 million in the same quarter last year, as revenue grew 16.92% to RM181.74 million from RM155.44 million in the corresponding quarter in 2021 due to improved sales in the ethical classic segment and public health sector.
For the six months period, net profit increased by 10.9% to RM36.6 million from RM33 million in the corresponding period last year mainly due to the increase in sales. Revenue also grew by 14.23% to RM367.68 million compared to RM321.89 million mainly due to higher sales to ethical classic market and public health sector.
The company has declared an interim dividend of 0.5 sen per share amounting to about RM4.762 million for the current financial period ended June 30 ,2022.
Group managing director Leonard Ariff Abdul Shatar expressed optimism in the company’s performance for the remaining months of the year, underpinned by the positive growth momentum seen in Malaysia’s economy following the reopening of international borders and the government’s increased budget allocation in the pharmaceutical segment this year.
“Over the longer term, we are always exploring new opportunities to expand our product portfolio in the health and wellness sector to cater to the growing demand for such offerings in an ageing society. We are also on the lookout for potential M&A within Asean to increase our overseas earnings,” he said in a statement.
He said the RM375 million government tender to supply Insugen-Insulin Recombinant Human Formulation for three years through 2025 is expected to contribute positively to the company’s future profit, in addition to the contract extension to continue supplying pharmaceutical and nonpharmaceutical products to government hospitals and clinics until end-2022.
