KUALA LUMPUR (Feb 19): Duopharma Biotech Bhd (KL:DPHARMA) has posted a 77.4% surge in net profit to RM15.08 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), from RM8.5 million a year earlier.

The increase, the company said, was driven by higher revenue and the initial crystallisation of favourable impacts from industry-wide normalisation of active pharmaceutical ingredient prices to pre-pandemic level.

Earnings per share improved to 1.57 sen from 0.88 sen, according to the company’s filing with Bursa Malaysia.

Quarterly revenue rose 15.62% year-on-year to RM193.67 million from RM167.5 million, supported by strong sales in the public health, ethical specialty, and export segments.

Duopharma, which is 44.11% owned by Permodalan Nasional Bhd, declared a second interim dividend of two sen per share — amounting to RM19.24 million — to be paid on March 19. This brings the total dividend payout for FY2024 to three sen per share, or RM28.86 million, surpassing the previous year’s 2.3 sen per share (RM22.13 million).

For the full year, Duopharma's net profit rose 19% to RM62.65 million from RM52.65 million in FY2023, while revenue grew 15.46% to RM813.7 million from RM704.73 million.

“In 2024, despite ongoing pressures from elevated operational costs impacting margins, Duopharma delivered a satisfactory overall performance, underpinned by strong sales across key sectors,” said Duopharma managing director Leonard Ariff Abdul Shatar.

Looking ahead, he said the company aims to maintain satisfactory performance in 2025 by focusing on sustainable growth, operational efficiency, cost optimisation, and strategic risk management in an evolving market.

Leonard Ariff said Duopharma expects to benefit from Budget 2025, which includes a 10% increase in healthcare allocation from the previous year.

Noting that the company has contracts to supply nearly 100 products to the government until Dec 31, 2026, he said Duopharma aims to expand this segment further.

Duopharma’s shares closed three sen or 2.29% lower at RM1.28 on Wednesday, giving it a market capitalisation of RM1.26 billion.