KUALA LUMPUR, Feb 21 – Pharmaniaga Bhd recorded a profit after tax of RM46 million for its financial year ended 31 December 2016. Profit before tax (PBT) stood at RM72 million while revenue came in at RM2.2 billion.
The Manufacturing Division remained the core contributor for the year, posting a PBT of RM87 million. However, this was lower than the previous year, primarily due to lower offtake for in-house products under the concession business.
The Logistics and Distribution Division registered a deficit due to lower orders from the concession business. The decline in orders is partially caused by lower buffer stocks required in government hospitals due to our delivery efficiency. However, this was offset by revenue growth in the Group’s Indonesian operations and private sector business.
As part of its commitment in enhancing shareholder value, the Board of Directors declared a fourth interim dividend of 3 sen per share. The dividend will be paid on 17 March 2017 to shareholders on the register as at 9 March 2017. This will bring cumulative dividends for the year to 16 sen per share.
Tan Sri Lodin Wok Kamaruddin, Chairman, Pharmaniaga Berhad says, “While it has certainly been a turbulent year against a volatile global economic backdrop, the Group was able to turn in a satisfactory performance. This was achieved by leveraging on our continuous operational improvements coupled with strong cost optimisation initiatives.”
“Moving forward, the healthcare sector continues to offer good prospects, both in Malaysia and in international markets. This is further supported by the Government’s initiatives highlighted in the 2017 National Budget for the building and upgrading of new hospitals and clinics across the nation, as well as the resupply of medicines to all Government hospitals and health facilities. As a leading pharmaceutical player, Pharmaniaga is indeed well-positioned to tap into these opportunities.”
“At the same time, we remain focused on strengthening our international presence, as our Indonesian operations continue to see good growth and we are making progress in the European Union,” he concludes.