Pharmaceutical firm Pharmaniaga Bhd’s long-term outlook on the healthcare industry is expected to continue to be positive, backed by strategic marketing initiatives that would enable the Group to reinforce its foothold in the private sector and step up global presence.

Indonesia will be the key growth area for the firm as it tap into opportunities for growth and expand its product portfolio to cater to evolving healthcare needs via research and development drive.

In a filing to Bursa Malaysia on 23 Aug, Pharmaniaga attributed its higher quarterly revenue to stronger demand under its Indonesia division, with the group’s bottom line rising despite higher marketing and promotion expenses, and higher finance costs with a lower corporate tax expense.

Net profit for the second quarter ended June 30, 2019 (2QFY19) ballooned 72% to RM9.28mil from RM5.39mil in the previous corresponding quarter, on the back of higher demand for its products in Indonesia and a lower tax bill.

Revenue for the 3-month period increased 3.3% to RM601.89mil from RM582.73mil last year.

For the six-month financial period ended June 30, the group’s net profit grew by 25.75% to RM28.9mil, from RM22.98mil a year prior. Its EPS for the period jumped to 11.09 sen from 8.84 sen last year.

Half-year revenue grew 15.6% to RM1.39bil from the RM1.2bil posted in the corresponding period in 2018.