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PETALING JAYA: Duopharma Biotech Bhd posts a marginal decline in earnings for the third quarter ended Sept 30,2020, as it registered lower revenue.

During the quarter in review, the pharmaceutical company posted a net profit of RM14.1mil, compared with RM14.9mil in the corresponding quarter last year, while revenue fell to RM133.8mil from RM142.9mil previously.

For the nine months to September 2020, Duopharma’s net profit slid 1% to RM42.4mil from RM43.2mil in the corresponding period last year, while revenue came in at RM435.8mil, compared with RM438.7mil previously.

“The group’s revenue decreased marginally as compared to last year’s corresponding period mainly due to lower demand from private ethical sector, tampered by higher demand from the consumer healthcare sector, ” it said in a filing with Bursa Malaysia, noting that the marginal decline in earnings was in tandem with the decrease in revenue.

In a separate statement, group managing director Leonard Ariff Abdul Shatar said despite the ongoing scenario comprising global and domestic upheavals largely attributed to the Covid-19 pandemic, the group’s solid financial results attested to higher demand for its pharmaceutical products, especially from the consumer healthcare sector.

This helped offset a marginally lower revenue compared to the corresponding period last year attributed to lower demand from the private ethical sector, he said.

“While 2020 has undoubtedly been more challenging than the previous years, we remain cautiously optimistic of our full-year performance, ” Leonard Ariff said, citing various contributing factors.

These included Budget 2021 having seen an increase of 6.6% in allocation for the healthcare sector to RM30.6bil, the highest ever allocation in the country’s history.

“This additional allocation augurs well for the group, as about 50% of our sales are made to the public health sector, ” he added.

KUALA LUMPUR (Nov 12): Duopharma Biotech Bhd's third-quarter (3Q) net profit fell 4.93% to RM14.13 million, from RM14.86 million a year earlier, due to a drop in revenue on lower demand from the private ethical sector.

Earnings per share for the quarter ended Sept 30, 2020 slid to 2.03 sen from 2.2 sen previously, according to the pharmaceutical group's filing with the stock exchange.

Quarterly revenue was down 6.36% to RM133.77 million from RM142.86 million.

For the cumulative nine months ended Sept 30, 2020, net profit slipped 1.9% to RM42.42 million or 6.16 sen per share, from RM43.24 million or 6.49 sen per share a year earlier, as revenue fell by a marginal 0.66% to RM435.82 million from RM438.71 million.

"Even with the ongoing scenario comprising global and domestic upheavals largely attributed to the Covid-19 pandemic, these solid financial results attest to higher demand for the group's pharmaceutical products especially from the consumer healthcare sector," said Duopharma managing director Leonard Ariff Abdul Shatar in a statement today.

On prospects, Leonard said the group remains cautiously optimistic about its performance for the financial year ending Dec 31, 2020 (FY20), although the year has undoubtedly been more challenging than previous years.

He noted that Budget 2020 saw an increase of 6.6% in allocation for the healthcare sector to RM30.6 billion — the highest ever allocation in Malaysian history.

This, coupled with the additional allocation to the Health Ministry to combat Covid-19, augurs well for the group as about 50% of its sales are made to the public health sector, he added.

As for Budget 2021, Leonard said the incentives proposed will encourage Malaysia's recovery from what has been a tumultuous year.

"The inclusion of public health initiatives, such as the provisioning for the purchase of a Covid-19 vaccine as well as increased allowances for health checks and treatments, will help safeguard the rakyat's health into the coming year," he added.

Duopharma said its new highly potent active pharmaceutical ingredients (HAPI) plant is already in operational mode, especially with the manufacture and supply of cancer drug Letrozole for both the public and private sectors.

Additionally, Duopharma has obtained a 25-month extension of a government contract for the supply of pharmaceutical and non-pharmaceutical products to hospitals, clinics and others until Dec 31, 2021.

"This extension will help stabilise a significant portion of the group's revenue for the said period. We also hope that the insulin off-take will also be extended to enable the group to mobilise our resources to intensify our foray into specialty products as one of our strategies moving forward to create a pool of niche products," Leonard said.

Duopharma's share price closed four sen or 1% higher at RM4.04 today, valuing the group at RM2.85 billion. Year-to-date, the counter has risen by 185% from RM1.42.

KUALA LUMPUR: Drug maker Duopharma Biotech Bhd said lower demand from private healthcare providers has impacted its results in the third quarter ended Sept 30.

Net profit fell 4% to RM14.2mil, while revenue declined 6.7% to RM133.8mil due to challenging environment faced by private clinics and hospitals amid the current Covid-19 pandemic.

The group, however, said the increased budget allocation to the public healthcare sector by the government.

"This augurs well with the Group as approximately 50% of our sales are to public service sector," it said in a with Bursa Malaysia today.

"In this aspect, we are optimistic that the Healthcare sector will continue to grow in 2020," the company said.

But still can hold for long term

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不是说公司股东最多可以握75％的股票吗,然后剩下的25％是外资和大众的我们握着