Triple net sales

SK Biopharmaceuticals' logo SK Biopharmaceuticals went into the red in the first quarter, reporting 35 billion won ($27 million) in net losses compared to a 129 billion won net profit in the same period a year earlier. The losses were larger than the market expectation. The consensus was 26.6 billion won of net losses, according to FnGuide. The Pangyo, Gyeonggi-based biopharmaceutical company blamed accounting reasons as the biggest factor behind the losses as the company booked $110 million for milestone payments and another 50.4 billion won for selling its 12 percent stake in Arvelle Therapeutics in the first quarter of last year. Quarterly revenue fell 71 percent to 41.1 billion won, while operating loss stood at 37.1 billion won. Both figures fell short of expectations as the market consensus of revenue was 49.2 billion won with 26.8 billion won of operating loss. "The U.S. sales of Cenobamate have been growing, which will likely grow more in the second quarter as … [Read more...] about SK Biopharmaceuticals reports $27 million in net losses in Q1

- A + A KUALA LUMPUR (May 17): Duopharma Biotech Bhd’s net profit for the first quarter ended March 31, 2022 (1QFY22) grew 15.2% to RM20.29 million from RM17.61 million in the same quarter last year, on the back of higher revenue due to increase in sales. The Sinopharm Covid-19 vaccine distributor saw its revenue for the quarter under review rise 11.71% to RM185.94 million from RM166.45 million previously, bolstered by higher sales to the consumer healthcare and private ethical sectors. Earnings per share improved to 2.19 sen compared with 1.9 sen a year ago, according to Duopharma’s filing with Bursa Malaysia. Compared to the immediate preceding quarter, Duopharma’s net profit grew 29.11% quarter-on-quarter from RM15.72 million, as revenue went up by 27.84% from RM145.44 million in 4QFY21. In a separate statement, Duopharma Biotech group managing director Leonard Ariff Abdul Shatar said earnings in the upcoming quarters will be buoyed by the RM375 million … [Read more...] about Duopharma’s 1Q net profit rises 15% on higher revenue

Share to Twitter Share to Linkedin Every market selloff presents opportunities. The iShares Emerging Markets ETF EEM is down -17% year-to-date. Even though Emerging Markets are notoriously volatile, this region is attractive due to its outsized growth potential. According to Lazard Asset Management , Emerging Market (EM) economies are responsible for about 60% of global growth, yet only represent about 13% of the MSCI All Country World Index ACWI . This gap won’t disappear overnight, but it bodes well for EM’s long-term investment prospects. EM has faster economic growth due to relatively attractive demographics and ongoing urbanization. If you’re a long-term investor, adding emerging markets exposure may also prove timely. Below is a chart of the MSCI Emerging Markets Index compared to the S&P 500 Index, expressed as a ratio. When the line is rising, it means Emerging Markets are outperforming US stocks. When the line is falling, it … [Read more...] about 3 Emerging Markets Stocks That Are Secular Winners On Sale

The company posted a net profit of 52 billion won ($43.4 million) during the April-June period, swinging from a net loss of 13.4 billion won a year earlier, the company said. Operating profit for the cited period was 81.1 billion, compared with a loss of 15.4 billion won a year ago, the company said. Sales also nearly tripled to 307.7 billion won. The bio company attributed its sound business performance to utilization improvement at its three plants in Songdo, west of Incheon, which eventually led to increased sales. Samsung Biologics said it is considering building a fourth plant following major deals. Yonhap … [Read more...] about Samsung Biologics reports a profitable second quarter

This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. Izham: We remain bullish on MAG’s future [and] cautiously optimistic about the environment. (Photo by Suhaimi Yusuf/The Edge) - A + A MALAYSIA Aviation Group Bhd (MAG), which narrowed its full-year net loss for 2021 by 60% over the preceding year, remains on track to achieve break-even in 2023 as part of its Long Term Business Plan 2021-2025 (LTBP 2.0). However, group CEO Captain Izham Ismail warns of headwinds from fuel and foreign exchange (forex) volatility, which could affect the target. MAG, whose wholly-owned subsidiaries include Malaysia Airlines Bhd (MAB), MAB Kargo Sdn Bhd (MABkargo), FlyFirefly Sdn Bhd and MASwings Sdn Bhd, posted a net loss of RM1.65 billion for the financial year ended Dec 31, 2021 (FY2021), a significant improvement on the year-earlier RM4.1 billion net loss when it was dealing with the effects of a slowdown in the global economy and … [Read more...] about Malaysia Aviation Group on track to break even in 2023 but faces fuel, forex headwinds

This article first appeared in The Edge Malaysia Weekly, on September 7, 2020 - September 13, 2020. - A + A IT would not be an exaggeration to say that Solarvest Holdings Bhd is the goose that lays the golden egg for building materials distributor Chin Hin Group Bhd. Founded by low-profile businessman and savvy investor Datuk Seri Chiau Beng Teik, Chin Hin is one of the largest companies in its sector. The group reported a net profit of RM7.47 million in its second quarter ended June 30 (2QFY2020) after recording a disposal gain of RM27.8 million from divesting 25 million shares in Solarvest, representing a 6.4% stake, at RM1.25 apiece. Excluding this one-off item, Chin Hin was expected to report a core net loss of RM20.3 million in 2Q, given that all of its business divisions sank into the red as a result of plant shutdowns and reduced activity on the back of the Movement Control Order (MCO). Bursa Malaysia filings show that Chin Hin disposed of 20 … [Read more...] about For Chin Hin, Solarvest is the goose that lays the golden egg

Share to Twitter Share to Linkedin Key News Asian equities were largely higher following the US market’s rip higher on Friday though China was off and several markets were closed for Vesak Day, one of the most sacred days for Buddhists. China’s April economic release was an expected dud due to Shanghai’s lockdown. Retail sales were driven lower by fall in -22.7% fall in restaurant sales though online retail sales have rebounded year-to-date as of the end of April. Hong Kong internet stocks had a mixed night in response as Meituan fell -2.45%, Tencent fell -1.24, Alibaba HK gained +2.92%, Kuaishou gained +0.81%, and JD.com HK gained +0.2%. JP Morgan’s analyst team upgraded many Chinese internet stocks following their March 15 th “uninvestable” downgrade that marked the low. Tencent had a small net outflow from Mainland investors via Southbound Stock Connect while Meituan had another small net buy. Earnings season for China internet names kicks … [Read more...] about No Surprise In April Data As Lockdowns Weigh On Economic Activity

- A + A KUALA LUMPUR (May 17): No analysts who track Mr DIY Group (M) Bhd have advised clients to sell the stock, although the home improvement retailer's latest quarterly earnings came in below some expectations. Nonetheless, Mr DIY came under selling pressure on Tuesday. It fell 16 sen or 4.51% to RM3.39. Some attributed the selling to investors' reaction to the 19.5% drop in its net profit for the first quarter ended March 31, 2022 (1QFY22) to RM100.5 million from RM124.79 million a year ago, due to higher expenses as it opened more stores. Quarterly revenue, however, climbed 4.02% to RM905.16 million from RM870.18 million a year ago, driven by contributions from new stores, the company said in a bourse filing. It declared an interim single tier dividend of 0.7 sen per share (approximately RM44 million), representing a payout ratio of 43.8%, despite earnings contraction. While analysts described the lower quarterly profit as an unexpected temporary … [Read more...] about Analysts cut Mr DIY target price despite expectation of better quarters ahead

- A + A KUALA LUMPUR (May 17): Here is a brief look at some corporate announcements and news flow on Tuesday (May 17) involving Petronas Chemicals Group Bhd (PetChem), Dialog Group Bhd, Duopharma Biotech Bhd, Yong Tai Bhd, Caely Holdings Bhd, Dagang NeXchange Bhd (DNex), Reservoir Link Energy Bhd, Borneo Oil Bhd, Chin Hin Group Bhd and Sarawak Consolidated Industries Bhd (SCIB). Petronas Chemicals Group Bhd ( PetChem ) is acquiring the entire equity interest in leading specialty chemicals group Perstorp Holdings AB from Financière Forêt SARL for a base purchase of €1.538 billion (RM7.018 billion) cash. The acquisition marks the creation of a significant specialty chemicals portfolio, while enhancing its overall earnings, said PetChem, which together with its unit Petronas Chemicals International BV (PCIBV) has entered into a conditional securities purchase agreement with the seller for the proposed acquisition. Under the deal, PCIBV is required to pay a maximum … [Read more...] about PetChem, Dialog, Duopharma, Yong Tai, Caely, DNeX, Reservoir Link, Borneo Oil, Chin Hin and SCIB

Source: AFP Japan’s SoftBank Group on May 12 reported a net loss of 1.7 trillion yen ($13 billion) for the fiscal year ended March 31 2022, as the Japanese conglomerate’s listed portfolio companies were hit hard by falling tech valuations across the globe with investors pricing in interest rate hikes and China tightening regulations on the industry. According to Reuters estimates, SoftBank’s Vision Fund investment unit posted a record loss of over 2.97 trillion yen for the Jan-Mar quarter hitting the Japanese investment conglomerate’s profits for the year. The Masayoshi Son-led investment firm had reported a net profit of 4.99 trillion yen ($38 billion) for the previous fiscal year, with the Vision Fund unit clocking a profit of about 4.03 trillion yen. Shares of South Korea’s Coupang Inc and China’s Didi Global, two of SoftBank’s biggest portfolio companies, have plummeted in the Jan-Mar quarter, dragging the Japanese investment conglomerate into losses for the year. … [Read more...] about SoftBank posts $13 billion loss for FY22 as tech shares plunge across the globe