KUALA LUMPUR: Pharmaniaga Bhd's net profit increased 7.5 per cent to RM9.98 million in the second quarter (Q2) ended June 30, 2020 from RM9.28 million recorded in the same quarter a year ago.
In a filing to Bursa Malaysia today, the pharmaceutical company said this was driven by increased demand in the non-concession business.
Group revenue in Q2 edged up 7.3 per cent to RM645.76 million from RM601.89 million previously, Pharmaniaga said in a statement today.
For the first half of the financial year 2020, Pharmaniaga's net profit rose 12 per cent to RM32.38 million from RM28.89 million, while revenue went up 5.6 per cent to RM1.46 billion from RM1.39 billion.
"As a result of the strong performance, the board of directors declared a second interim dividend of 2.5 sen per share," Pharmaniaga said.
The dividend will be paid on October 6 to shareholders on the register as at September 8 this year.
Acting managing director Mohamed Iqbal Abdul Rahman said its performance was primarily a result of higher sales of personal protective equipment due to the ongoing Covid-19 pandemic.
"In tandem, Pharmaniaga continued to ensure a stable stream of medicines and medical supplies to Ministry of Health facilities, coupled with provision of logistics and distribution services."
Mohamed Iqbal said the group remained committed to strengthening operations across all its divisions and endeavouring in new ventures in line with the current healthcare industry.
"Along with serving the healthcare requirements of the rakyat, this will enable the group to continue delivering better results."
Taking a longer-term perspective, he said the group was focused on enhancing prospects by improving manufacturing and operational efficiencies, as well as progressing in its research and development efforts.
"This will allow us to tap on new opportunities, both in Malaysia and in our overseas markets, to ensure the sustainable growth of the group in the years ahead," he added.