Pharmaniaga Berhad's financial results for the first half ended 30 June 2024 with Profit After Tax rising to RM30 million, up from RM5.1 million in the same period last year.

During the first half of FY2024, the group posted a 4.3% increase in revenue to RM1.8 billion compared with RM1.7 billion in the preceding year's corresponding period, due to improved customer demand in the concession and Indonesia segments. The Earnings Before Interest, Taxation, Depreciation And Amortisation (EBITDA) was RM97.8 million, up by 53.5% against the same half last year of RM63.7 million, while Profit Before Zakat and Taxation (PBT) soared by 172.8% to RM42.4 million from RM15.5 million.

The results were driven primarily by the Group's cost optimisation initiatives that have contributed to the reduction of operating expenses by 11.1% during the first half year, against the same period in 2023.

For the second quarter of FY2024, Pharmaniaga posted RM3.8 million PAT higher by 65.5% compared with RM2.3 million in the same quarter last year. Meanwhile, the Group recorded a lower PBT of RM3.3 million, against RM6.3 million in the corresponding quarter of 2023, mainly due to higher finance cost resulting from increased borrowings. The Group also registered RM838.3 million in revenue, 1.2% lower compared with RM848.7 million in the same quarter last year, while EBITDA recorded a 0.2% increase to RM31.3 million, from RM31.2 million.