Hyphens Pharma International Limited, Singapore’s leading speciality pharmaceutical and consumer healthcare group, has reported a significant 26.5% increase in net profit for the financial year 2024, reaching S$10.9m. This growth is attributed to a 14.6% rise in revenue, totalling S$195.4m, primarily driven by the Speciality Pharma Principals segment, which saw a 21.6% increase.
The company’s Proprietary Brands segment also contributed to the positive results, with a 7.4% revenue growth, thanks to increased demand for products such as Ceradan dermatological products and Ocean Health supplements. The Medical Hypermart and Digital segment experienced a modest 2.1% revenue increase.
Hyphens Pharma’s Executive Chairman and CEO, Lim See Wah, expressed optimism about the company’s future, highlighting ongoing expansion into the ASEAN region and the development of its digital healthcare platform. “We will continue to work hard to steadily execute our strategic plans to grow and become a speciality pharmaceutical and consumer healthcare leader in ASEAN,” he stated.
The company has proposed a final dividend of 1.50 Singapore cents per share for FY2024, a 74.4% increase from the previous year, reflecting a payout of 45.4% of net profits attributable to shareholders. This proposal is subject to approval at the upcoming annual general meeting.
Looking ahead, Hyphens Pharma plans to continue expanding its Proprietary Brands and strengthen its Speciality Pharma portfolio. The company is also focused on digital initiatives, with its subsidiary DocMed Technology powering a B2B digital pharmacy solutions platform. Despite external challenges such as rising costs and currency volatility, Hyphens Pharma remains committed to exploring new partnership opportunities and enhancing operational efficiencies.
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