Pharmaniaga Q1 net profit rises to RM19.62 mln

KUALA LUMPUR, Pharmaniaga Bhd’s net profit for the first quarter ended March 31, 2019 (Q1) rose to RM19.62 million from RM17.59 million registered in the same quarter last year.

Revenue improved 27.2 per cent to RM786.11 million from RM617.92 million previously.

The company attributed the higher revenue to the stronger demand from government and private hospitals in both Malaysia and Indonesia.

Prospects for Pharmaniaga remain bright, as the group builds on its strong foundation to grow its concession and non-concession businesses, it said in a filing to Bursa Malaysia.

The group aims to heighten its market presence in the private sector via strategic marketing initiatives.

We are also focused on strengthening the Indonesian operations to tap into the immense potential of this market. Moving forward, Pharmaniaga will continue to seek opportunities in the healthcare sector in both the domestic and international markets to deliver sustainable growth over the long term, it said.

Source: BERNAMA (News Agency)