Port Klang – CCM Duopharma Biotech Berhad (CCMD) recorded a 6.3 per cent increase in revenue to RM122.9 million for its financial year ended December 31, 2008 from RM115.6 million in the corresponding period last year.
However, CCMD’s profit before tax fell to RM35.3 million from RM42.5 million in the same period. The decline in profit before tax was attributable to an increase in raw material costs absorbed by the Group as well as once-off stocks write-off mainly due to regulatory requirements.
The Board of Directors has recommended a final tax exempt dividend of 14 per cent (7.0 sen) per share for the financial year ended December 31, 2008. The total dividend for the same period is 30 per cent (15 sen) per share consists of a final tax exempt dividend of 14 per cent (7.0 sen) per share and an interim dividend of 16 sen (8.0 sen) amounting to approximately RM20.9 million.
Meanwhile, CCMD’s first quarter revenue increased to RM27.7 million for the period ended March 31, 2009 from RM27.5 million in the corresponding quarter in 2008. CCMD’s profit before tax dropped to RM9.4 million from RM9.8 million in the same period last year. The decline in profit before tax was mainly due to the increase in distribution and administration cost incurred by the Company. However, compared with the fourth quarter, 2008 performance, CCMD managed to improve its Profit Before Tax by 159% and is optimistic of its 2009 performance.
“The current challenging situation offers us the opportunity to leverage our presence in the pharmaceutical market following the growing demand for affordable generic medicines,” said Tan Sri Dato’ Dr Abu Bakar, Chairman of CCM Duopharma Biotech Berhad.
He added that CCMD will also explore avenues to enhance synergy and benefit from strategic initiatives undertaken at the CCM Group level.
CCM recently launched Innovax Sdn Bhd, a RM10 million hi-tech research and development (R&D) centre to facilitate the manufacturing of the Group’s new pharmaceutical products. Through the investment, CCMD can leverage the R&D arm’s capability to develop innovative and outstanding drugs to stay ahead of the competition.
Among CCMD recently launched products include Herbajules, which is derived from herbal plants’ chemical compounds phythochemicals for their health promoting-values to achieve and maintain optimum health. Herbajules combines 5,000 years of health secrets and the use of pelletization technology for maximum safety and efficacy of natural herbs.
Besides that, the Company has also secured two new government contracts worth RM20 million which is expected to generate sales of about RM10 million per year over a two-year period. CCMD currently supplies SLN 30 drug for HIV/AIDS treatment and Methadone for the Ministry of Health’s drug rehabilitation programme.
CCMD is also tapping into the potential of the human vaccines market as it is set to establish the first inert vaccines fill and finish facility in the ASEAN region which becomes operational by the fourth quarter of this year. The RM7 million facility is suitable for the vialling of CCMD’s bulk vaccines in the pipeline and is capable of compounding, filling, freeze drying, capping, inspecting, labeling and packing inert vaccines to meet the increasing needs of customers who wish to commercialise and launch their products into the market.
With the growing stature and reputation of the local pharmaceutical industry and expansion at an average rate of 10 per cent annually, CCMD believes that its initiatives will significantly enhance its market position and offer customers higher value added products and services.
CCM Duopharma Biotech Berhad is a subsidiary of CCM Berhad which is listed on the main board of Bursa Malaysia and is a key player in the fertilizers, chemicals and pharmaceuticals industries.
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Issued with the compliments of Chemical Company of Malaysia Berhad
For further information, please contact: Ida Fazila Ismail
of Eric Pringle Associates Public Relations Sdn Bhd
at Tel No: 21617144 or email: ifazila@epapr.com.my |
