MAY 28, 2018
• CCM Duopharma’s Revenue rose 10.14 per cent for first Quarter ended March 31, 2018 to RM133.26 million from RM120.99 million in the corresponding period last year
• Profit after tax (PAT) rose 23.54 per cent during the same period to RM10.65 million from RM8.62 million in the corresponding period last year
• The Group’s current Quarter results (31 March, 2018) has also improved as compared to the Revenue and PAT of RM107.59 million and RM10.05 million respectively achieved during the preceding financial quarter (Dec 31, 2017), thus, representing an increase of 23.86 per cent and 5.95 per cent respectively.
• CCM Duopharma is expected to achieve satisfactory results for FY 2018 due to the forecasted 5% growth of the nation’s GDP, as well as launches of new products into the market.
FIRST QUARTER 2018 PERFORMANCE
Kuala Lumpur – CCM Duopharma Biotech Berhad (CCM Duopharma) recorded a 10.14 per cent growth in Revenue for the first quarter ended March 31, 2018 to RM133.26 billion from RM120.99 million in the same quarter last year. The Group’s Profit before Tax for the first quarter rose 18.60 per cent to RM13.26 million from RM11.18 million in the same period last year while Profit after Tax jumped 23.54 per cent to RM10.65 million from RM8.62 million in the previous year.
CCM Duopharma’s Group Managing Director, Leonard Ariff Abdul Shatar said that “The double-digit growth performance was due to higher demand from both the local private and public health sectors”. “CCM Duopharma is expected to see healthy demand from all business segments in tandem with Malaysia’s GDP which is expected to grow by five per cent this year and in particular the Government’s 2018 National Budget allocation of RM4.1 billion for the supply of drugs and consumables to all government hospitals and facilities”.
“Buoyed by the positive outlook for the pharmaceutical industry in 2018, CCM Duopharma is optimistic that it will be able to tap into the opportunities and enhance our participation in both the local private and public sectors” he added.
COMPARISON WITH PRECEDING QUARTER’S PERFORMANCE
The Group’s revenue for the first Quarter ended March 31, 2018 increased 23.86 per cent to RM133.26 million compared to RM107.59 million achieved during the preceding quarter ended December 31, 2017. Profit before tax rose to 19.32 per cent to RM13.26 million from RM11.11 million during the preceding quarter ended December 31, 2017 on the back of higher demand received from the public health sector.
Commenting on the outlook for the rest of the year, Leonard said that “The Group was positive on the future and especially optimistic with its Specialty business which is due to launch some specialty products in the near future.”
“The recent demerger exercise has enabled us to become stronger and more productive to ensure that we are on the right track towards realizing our goal of becoming one of the leading generic pharmaceutical companies in ASEAN by 2020,” he said.
On 28 December 2017, CCM Duopharma became an independent public listed Company upon completion of a demerger exercise from Chemical Company of Malaysia Berhad (CCMB). The Group has recently proposed a bonus issue of up to 371,945,333 new ordinary shares on the basis of four (04) bonus shares for every three (03) existing shares, reflecting the company’s stronger fundamentals after it has completed the demerger exercise. The Group will be holding its Annual General Meeting on May 31, 2018. This will be followed by an Extraordinary General Meeting, on the same day.