PETALING JAYA: Pharmaniaga Bhd posted a higher net profit of RM24.77mil for its first quarter ended March 31, 2013, reversing a loss of RM7.9mil recorded in the preceding quarter. Revenue rose to RM500.3mil from RM482.4mil previously.
Year-on-year, the company recorded a 13.6% lower net profit for the quarter under review from RM28.68mil previously.
“It is a good start to the financial year with the group registering a higher profit.
“We achieved better operational efficiency in our domestic as well as overseas businesses. In addition, we recorded an increase in revenue as a result of heightening demand from both the government as well as private sectors.
“As such, we are indeed on track to sustain our growth momentum for the rest of the year,” chairman Tan Sri Lodin Wok Kamaruddin said in a statement.
The company has also declared a dividend of 7.5 sen per share, while its net assets per share stood at RM4.12.
The improved performance was attributed to the improved efficiency of its manufacturing division as a result of the discontinuation of outsourced manufacturing.
He further added that the company was positive of greater growth in the country’s pharmaceutical sector and was looking forward to maintaining its position as one of the leading players in this sector.
The company has also declared a dividend of 7.5 sen per share, while its net assets per share stood at RM4.12. - The Star Online