Hyphens Pharma's Q3 net profit falls to $2m

Meanwhile, revenue rose thanks to stronger sales in Singapore and Malaysia.

Hyphens Pharma International Limited's net profit for the third quarter fell by 5.6% to $2m, down from $2.1m in the same period last year, its bourse filing showed.

The group attributed the decline to higher distribution and manpower costs and increased administrative expenses. This was partially offset by a higher gross profit and exchange gains from favourable currency movements against the US dollar and euro.

Revenue rose 2.5% year-on-year from $42.8m to $43.9m, driven by stronger sales in Singapore and Malaysia.

September revenue increased by 22.1% to $143.5m, mainly due to growth in the specialty pharma principals segment, including new sales from distributorships with Laboratoires Gilbert S.A.S and higher demand for its medical aesthetics range.

Revenue from the proprietary brands segment grew by 16.9%, whilst the medical hypermart and digital segments posted a 3% increase.

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