Duopharma Posts Highest Ever Revenue At RM696.72 Million

Duopharma Biotech Berhad (“Duopharma Biotech”) held its 22nd Annual General Meeting today, highlighting the Duopharma Biotech Group’s progress in growing and transforming its business in line with market evolution.

The Group had ended FY2022 with its highest ever revenue of RM696.72 million, a 9.0% increase from RM638.18 million in FY2021. In the same period, profit before tax (“PBT”) saw an increase of 2.25% to RM84.85 million from RM82.98 million the previous year.

The Group’s total revenue comprised 94% from local sales with the segment also accounting for 94.9% of total gross profits. Duopharma Biotech’s performance was boosted by higher sales generated from prescription pharmaceuticals under the Ethical Classic Business and the public health sector.

The Company won a three-year contract worth RM375 million to supply Insugen to the Ministry of Health’s facilities from 29 April 2022 – 28 April 2025.

In FY2022, the Group’s earnings per share rose by 4.4% year-on-year from 7.08 sen to 7.39 sen. The Board of Directors declared a total dividend of 2.3 sen per share for the year (equivalent to RM21.90 million) comprising two interim dividends of 0.5 sen per share (RM4.76 million) and 1.8 sen per share (RM17.14 million) respectively.

The Board also resolved to apply the Dividend Reinvestment Plan (“DRP”) to the second interim dividend, with the new ordinary shares issued priced at RM1.35 each.

Subsequently, the Group started 2023 on a promising note with significant revenue growth in Q1FY2023. In the quarter ended 31 March 2023, Duopharma Biotech reported earnings of RM200.48 million, a 7.82% increase from the corresponding period last year.

In the same period, the Company recorded an increase of 6.18% PBT (RM28.29 million) with earnings per share of 2.38 sen in Q1FY2023.
Duopharma Biotech Group Managing Director Leonard Ariff Abdul Shatar added: “In Duopharma Biotech’s business outlook, we are extremely encouraged by the healthcare reforms direction taken in the revised Budget 2023, which includes a record 12.0% increase from Budget 2022 in healthcare allocation amounting to RM36.3 billion – for the purchase of pharmaceutical products and medical consumables, and to expand accessibility to healthcare services among lower income residents.”

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