DHG Pharma reports average monthly profit of $3.9 mln, up 20%

DHG Pharmaceutical JSC, Vietnam's leading pharmaceutical, recorded a pre-tax profit of VND546 billion ($23.3 million) in the first six months of the year, up 20.5% year-on-year, or an average monthly profit of $3.9 million.

The company's net revenue during the period reached VND2,184 billion ($93.25 million), a 11% increase.

After six months, DHG has fullfilled 52% of the year revenue plan and 64% of the year profit target.

In the second quarter, the pharmaceutical company's net revenue and pre-tax profit reached $47.82 million and $11.12 million, up 18% and 16.5% over the same period last year, respectively.

The main contribution to revenue growth stemmed from products made by DHG (up 18%), according to the firm's financial statement.

DHG said it is focusing on selling strategic products, especially nutritional products and those related to Covid-19 treatment like Hapacol, Klamentin, Medlon, and Bocalex.

The corporation's pharmaceutical business is less affected in a highly inflation environment, with stable input costs compared to other industries, according to a recent report by SSI Securities, a leading Vietnamese broker.

Leading pharmaceutical sector profits in 2021 is DHG, followed by Traphaco (HoSE: TRA) and Imexpharm (HoSE: IMP). However, most likely, these rankings will not see any strong move this year, SSI said.

On the Ho Chi Minh City Stock Exchange (HoSE), DHG shares price hit VND88,500 ($3.78) a piece at the closing session on July 20.