Published: Thursday May 3, 2012 MYT 12:53:00 PM
Pharmaniaga Q1 earnings up 85.2% to RM28.68m
KUALA LUMPUR: Pharmaniaga Bhd's earnings rose 85.2% to RM28.68mil in the first quarter ended March 31, 2012 from RM15.48mil a year ago, boosted by the acquisition of a new subsidiary and improvement in operational efficiency.
It said on Thursday it revenue increased 15.9% to RM446.74mil from RM385.33mil. Earnings per share were 24.38 sen compared with 13.16 sen. It declared an interim dividend of 7.5 sen a share.
On the revenue, Pharmaniaga said this was due to higher sales to the government sector coupled with improvement in operational efficiencies.
Its profit before tax of RM43.0mil versus RM21.8mil as year ago was contributed by higher gross profit margin of 20.6% as compared with the 16.3% a year ago. This was due to the contribution by newly acquired subsidiary, Idaman Pharma Manufacturing Sdn Bhd and its improvement in operational efficiencies.
It said IPMSB contributed an additional profit before tax of RM10.9mil,or 25.3% of the group's total profit before tax.