Pharmesis International Ltd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Reports Impairment Loss on Property, Plant and Equipment for the Fourth Quarter Ended December 31, 2017
For the year, the company reported revenue of RMB 69,727,000 against RMB 68,839,000 a year ago. The group's revenue increased by RMB 0.9 million or 1.3% from fiscal year 2016, mainly due to higher sales from non-prescribed drugs segment brought on by increasing demand for Er Ding granules. Overall, non-prescribed drugs/distribution segment increased by RMB 2.8 million while prescribed drugs segment decreased by RMB 1.9 million for fiscal year 2017. Loss from operations was RMB 546,000 against RMB 3,727,000 a year ago. Loss before tax was RMB 1,286,000 against RMB 4,352,000 a year ago. Loss attributable to equity holders of the company was RMB 2,477,000 against RMB 4,640,000 a year ago. Net cash flows from operating activities were RMB 2,679,000 against net cash flows used in operating activities of RMB 31,418,000 a year ago. Acquisition of property, plant and equipment was RMB 1,392,000 against RMB 868,000 a year ago. EPS per diluted share was cents 10.8 against 20.2 cents a year ago.
For the quarter, the company reported impairment loss on property, plant and equipment of RMB 257,000 against RMB 1,247,000 a year ago.