Revenue for the quarter was 14% lower at RM582.82 million compared to RM680.15 million recorded a year earlier. Despite recording a loss for the quarter, Pharmaniaga announced an interim dividend of 3 sen, payable on March 17, 2017. The group attributed the slump in financial performance to lower orders from the concession business, which was partly offset by improved contributions from its Indonesian operations and private sector business. The performance of both its manufacturing division and logistics and distribution division was impacted by lower orders from the concession business. "The decline in orders is partially caused by lower buffer stocks required in government hospitals due to our delivery efficiency," said Pharmaniaga.

Source: The Edge Markets February 21, 2017 07:07 UTC