Pharmaniaga reports narrower loss for FY23 on restructuring initiatives

KUALA LUMPUR: Pharmaniaga Bhd’s net loss for the financial year ended Dec 31, 2023 (FY2023) narrowed to RM77.45 million from RM629.92 million in FY2022.

Revenue dropped to RM3.40 billion from RM3.48 billion, representing a 2.2 per cent decrease, mainly due to the reduction in revenue from its concession business as a result of a lower budget allocation.