Apex Healthcare Berhad Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Reports Property, Plant and Equipment Written Off for the Third Quarter Ended September 30, 2018
November 15, 2018 at 02:44 am EST
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Apex Healthcare Berhad announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue MYR 165,253,000 against MYR 157,730,000 a year ago. Profit before tax was MYR 18,637,000 against MYR 13,302,000 a year ago. Net profit attributable to owners of the parent was MYR 14,897,000 against MYR 11,270,000 a year ago. Diluted earnings per share attributable to owners of the parent were 12.64 sen against 9.61 sen a year ago. In the third quarter of 2018, the group achieved revenue a growth of 4.8% when compared to the third quarter of 2017. Revenue growth was also helped by higher contract manufacturing and public sector pharmaceutical sales in both Malaysia and Singapore. Share of profit from associate company Straits Apex Sdn Bhd was MYR 2.26 million, significantly improved over the MYR 0.72 million recognized in the third quarter of 2017. With a greater proportion of higher margin proprietary products in the sales mix, group profit before tax for the third quarter rose to MYR 18.6 million, 39.8% higher than the MYR 13.3 million achieved in the corresponding period in 2017. Profit before tax for the current quarter growth of 7.3% higher than compared to second quarter of 2018. This was due to higher revenue and improved margins arising from a better sales mix in the third quarter when compared to the immediate preceding quarter.
For the nine months, the company reported revenue MYR 489,599,000 against MYR 467,679,000 a year ago. Profit before tax was MYR 52,531,000 against MYR 39,667,000 a year ago. Net profit attributable to owners of the parent was MYR 41,777,000 against MYR 31,658,000 a year ago. Diluted earnings per share attributable to owners of the parent were 35.45 sen against 27.00 sen a year ago. Net assets per share attributable to owners of the parent were MYR 3.12 as on September 30, 2018, compared with MYR 2.93 as on December 31, 2017. For the first nine months of 2018, the group achieved revenue a growth of 4.7% when compared to the same period in 2017. Across the business units, revenue growth was strongest for private sector pharmaceutical and consumer healthcare products, international exports, sales to government agencies and contract manufacturing services.
For the third quarter ended September 30, 2018, the company reported property, plant and equipment written off of MYR 2,000 compared to MYR 1,000 a year ago.
Apex Healthcare Berhad is a Malaysia-based healthcare company. The Company is focused on the development, manufacturing, wholesaling, marketing and distribution of pharmaceuticals, consumer healthcare products, and medical devices. It operates through three segments: Manufacturing, Distribution and Corporate. It is engaged in the manufacturing of pharmaceutical products. It is involved in the distribution of pharmaceutical and healthcare products. The Corporate segment comprises investments, properties and others. It is also engaged in the contract manufacturing of orthopedic devices. Its brands include XEPATM, AVO, AGNESIA, AEVA and HENNSON, and products bearing these brands are sold in approximately 16 territories worldwide. The Company's distribution channels reach hospitals, clinics, independent and chain pharmacies, supermarkets and health stores, enabling products to reach customers, namely doctors, pharmacists, nutritionists, retailers, and ultimately the patients or consumers.
Apex Healthcare Berhad Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Reports Property, Plant and Equipment Written Off for the Third Quarter Ended September 30, 2018