Duopharma Biotech Records Robust Financial Performance in Q2 2024

Interim dividend of 1.0 sen per share announced, double of the 0.5 sen interim dividend in the corresponding period last year Results reflect resilience and growth recovery amidst persistent challenges

Kuala Lumpur, August 19, 2024 -- Duopharma BIotech Berhad ("Duopharma Biotech" or "the Company") registered robust performance in the second quarter ended 30 June 2024. The Company recorded revenue of RM218.32 million in the quarter, a 30.3% increase from the corresponding quarter last year, and also a 13.1% increase from the RM192.97 million recorded in Q1FY2024. The strong performance was also reflected in the revenue for the first six months of FY2024, standing at RM411.29 million, 11.8% higher than the corresponding period in FY2023.

The double-digit growth was driven by increased sales in the prescription pharmaceutical markets, ethical specialty and export segments, which cushioned the marginal drop in sales in the consumer healthcare sector in the first half of FY2024. The profit Before Tax (PBT) in Q2FY2024 of RM21.96 million mirrored the company's resilience, growing 33.0% compared to the corresponding quarter in FY2023, as well as increasing 9.2% from the immediately preceding quarter. However, the PBT of RM42.06 million for the first six months of FY2024 was 6.1% lower from the corresponding period last year, attributed to changes in the product mix, coupled with increased operational and finance costs, and unfavourable exchange rates.

Leonard Ariff Abdul Shatar, Group Managing Director of Duopharma BIotech Berhad remarded, "Our strong financial performance this quarter reaffirms Duopharma Biotech's strategy and reinforces our commitment to delivering high-quality healthcare solutions and expanding our market presence. We will continue to build on our achievements and take strategic measures to address challenges. Our focus is on driving forward with innovative solutions and strengthening partnerships to meet the evolving needs of consumers and the healthcare sector. We are particularly enthusiastic about our international ventures and sustainability efforts, which are key to our long-term vision."

The Board of Directors announced an interim dividend of 1.0 sen per share for the current financial period ended 30 June 2024, amounting to approximately RM9.62 million, a notable increase from the 0.5 sen per share interim dividend announced in the corresponding period last year. The Board of Directors also resolved that the Dividend Reinvestment Plan shall not apply to the aforesaid interim dividend.

The Company's growth strategy is underpinned by initiatives to expand its presence and enhance the value of Hala-certified healthcare solutions in international markets, Recently, Duopharma Biotech introduced Flavettes Glow to the Indonesian market through its subsidiary PT Duopharma Healthcare Indonesia, catering to the growing consumer demand for vitamins and supplements in Southeast Asia's largest economy, and leveraging the convenience of e-commerce via Shop Tokopedia for distribution.

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