Duopharma Biotech announced a year-to-date revenue of RM544.76 million and profit before tax of RM69.5 million in the current period ended 30 September 2022. On a year-on-year basis, revenue increased by 10.33% (YoY) and 5.54% increase in profit.
Higher demand from the public health sector and ethical classic market contributed to the improved revenue and profit before tax.
Duopharma paid an interim dividend of 0.5 sen per share amounting to approximately RM4.76 million for the financial period ending 31 December 2022 during the quarter.
“The outlook for Duopharma Biotech is positive in light of the continuous emphasis placed by the Government on the healthcare sector every year. We will continue to explore new opportunities to expand our product portfolio in the health and wellness sector as a leading pharmaceutical company in Malaysia, and strengthening our commitment in the halal sector,” Leonard Ariff said.
Despite manufacturing margin pressure from a strong US dollar, Duopharma Biotech Group Managing Director Leonard Ariff Abdul Shatar expressed optimism for a satisfactory performance in 2022, in light of the strong demand from private ethical market and public health sector, and further underpinned by positive growth momentum in Malaysia’s economy following the reopening of international borders.
Recently, Duopharma Consumer Healthcare, a subsidiary of Duopharma Biotech, signed a Product Distribution Agreement with South Korea-based stem cell technology company SCM Lifesciences to distribute a range of IRORO brand halal-certified anti-hair loss products specially formulated for the Malaysian market, expanding its offerings in the cosmeceutical segment.
