Duopharma Biotech net profit up 16% to RM55.27mil

Group managing director Leonard Ariff Abdul Shatar(pic) attributed the group’s strong performance to higher demand for the group’s pharmaceutical products from both the private and public health sectors.

KUALA LUMPUR: Duopharma Biotech Bhd (formerly CCM Duopharma Biotech Bhd) posted net profit of RM55.27mil in the financial year ended Dec 31,2019 and was upbeat on its outlook for its pharmaceutical products due to the extension of contract periods by the government.

In a filing with the exchange, the company said yesterday its net profit had increased by 16% from RM47.64mil in FY18. Its revenue rose by 15.6% to RM576.46mil from RM498.72mil.