Pharmaniaga net profit rose nearly two-fold in Q2, 2014

Pharmaniaga Bhd's net profit rose nearly 172% to 15.98 million in the second quarter ended June 30, 2014 compared to RM5.87 million a year earlier.

Its revenue increased by 20% to RM525.0 million from RM437.6 million.

For the six months ended June 30, 2014, the company's net profit advanced 37.7% to RM42.19 million from RM30.6 million while revenue increased to RM993.7 million from RM937.9 million.

In a filing with Bursa Malaysia, the company attributed the favourable contributions from both concession and non-concession businesses.

On its prospects, it said the company expects the recently acquired manufacturing plant in Indonesia to contribute positively towards its long term earnings as it concentrates on exploring new viable business opportunities to broaden its earnings base as well as sustain profitability in the financial year ending Dec 31, 2014.

It said the manufacturing division is a major part of the company's business strategy moving forward, focus will be on product portfolio expansion and enhancements in its research and development efforts.

While the logistics and distribution division is expected to continue generating a stable income and focusing on cost optimization measures to maintain sustained earnings.

/theSUN 22-08-2014

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