Pharmaniaga likely to see earnings growth in FY24

Kenanga Research expects Pharmaniaga to make a recovery and post earnings at a level before Covid.

PETALING JAYA: Pharmaniaga Bhd is expected to see earnings growth in its financial year ending Dec 31, 2024 (FY24), reaching pre-Covid levels and averaging between RM40mil and RM60mil.

The Practice Note 17 (PN17) pharmaceuticals group reported a net loss of RM607.32mil in its FY22, while for the nine months ended Sept 30, 2023 (9M23), it recorded a net loss of RM44.73mil.