KUALA LUMPUR: Duopharma Biotech Bhd's net profit rose six per cent year-on-year (YoY) in the second quarter (Q2) ended June 30, 2022, to RM16.31 million from RM15.39 million in the same period last year due to improved sales in the ethical classic segment and public health sector.
Revenue for the quarter was up 16.9 per cent YoY to RM181.74 million from RM155.45 million in Q2 last year.
For the first half (H1), the company's net profit rose 10.9 per cent YoY to RM36.6 million from RM33 million in the same period last year.
Revenue for 1H rose to RM367.68 million, up 14.2 per cent YoY from RM321.89 million last year.
Group managing director Leonard Ariff Abdul Shatar said the RM375 million government tender to supply Insugen-Insulin Recombinant Human Formulation for three years through 2025 is expected to contribute positively to the company's future profit, in addition to the contract extension to continue supplying pharmaceutical and non-pharmaceutical products to government hospitals and clinics until end-2022.
"Over the longer term, we are always exploring new opportunities to expand our product portfolio in the health and wellness sector to cater to the growing demand for such offerings in an ageing society.
"We are also on the lookout for potential mergers and acquisitions within Asean to increase our overseas earnings," he said.
The company has declared an interim dividend of 0.5 sen per share amounting to approximately RM4.762 million for the current financial period.
Meanwhile, the company's share capital had increased from RM405.85 million at the end of 2021 to RM419.36 million as of 30 June 2022.
