RHB Investment maintains ‘buy’ call on Duopharma after FY21 sturdy numbers | Malay Mail

Wednesday, 16 Feb 2022 11:46 AM MYT

The research house said Duopharma reported a core net profit of RM67 million, at 97 per cent of its full-year estimates with topline growing 12 per cent year-on-year , sustained by the continued robust demand for consumer healthcare products and recovery in the public health sector. “We believe its long-term earnings growth prospects remain bright, on the back of its efforts to improve product offerings while venturing into high-value therapies,” it shared.The research house said Duopharma’s FY21 results were in line with its expectation but 4Q21 core earnings per share fell 10 per cent yoy due to lower margins.

Nonetheless, it said local revenue eased 14.0 per cent quarter on quarter , mainly due to seasonally weaker public sector demand while 4Q21 export revenue, which is 5.0 per cent of total, remained tepid at RM8 million due to Covid-19-led logistical challenges.

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