Malaysian Genomics Sees Rise in Profit Margins for 1Q
Malaysian Genomics Resource Centre Berhad, a leading genomics
and biopharmaceutical specialist, today reported a revenue of
RM3.81 million for the first quarter ended 30 September 2022 (1Q
2023) versus a revenue of RM9.32 million in 1Q 2022, as the Group
refocuses on immunotherapy and cell therapies under the
biopharmaceutical business and pushes for organic growth of its
genetic screening business.
The Group recorded a 254.16% increase in profit before tax (PBT) to
RM0.85 million for 1Q 2023, compared with RM0.24 million in the
corresponding quarter of the previous financial year, on higher
profit margins and revenue contributions from the new
Earnings per share for 1Q 2023 stood at 0.68 sen compared with 0.20
sen in 1Q 2022.
Dato' Seri Dr Chen Chaw Min, Independent Non-Executive Chairman of
Malaysian Genomics said, "The Group's pivot to immunotherapy and
cell therapies from vaccine distribution continues to pay off as
PBT improves on higher profit margins. We expect more improvements
to the biopharmaceutical business as the Group's expansion of its
distribution network and footprint overseas in the Middle East and
Southeast Asia takes shape."
"We are pushing the genetic screening business as the Group
continues to reach out through business-to-consumer channels for a
wider market reach. We believe better awareness and education is
prompting more people to take action on how they can enhance their
health, and the Group will leverage on this through catering to the
different needs and groups from our suite of healthcare-related
solutions. We are also seeking to acquire assets or invest in
businesses that will support the expanded market reach of our
products and services."
"The Group is well positioned to be a leading provider of genetic
screening, genome analysis, and biopharmaceutical products in
Southeast Asia, as we are equipped with a high-throughput
sequencing lab, an advanced microarray facility, and a new
state-of-the-art cGMP cell processing lab for cell therapies,
including immunotherapy for various types of cancers. We are
confident that we are in a position to provide patients with better
access to the latest precision and personalised healthcare
Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC:
MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/
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