Beximco Pharmaceuticals Limited (“BPL” or “the Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its un-audited financial results for the six months ended 30 June, 2015.
Highlights
Half year financial highlights
• Net sales increased by 17.4% to Bangladesh Taka (“BDT”) 6,249.2m / £51.1m (2014: BDT 5,322.2m / £40.2m)
• Domestic sales increased 15.4% to BDT 5,882.5m / £48.1m (H1 2014: BDT 5,099.2m / £38.5m)
• Export sales increased 64.4% to BDT 366.7m / £3.0m (H1 2014: BDT 223.0m / £1.7m)
• Profit after tax increased by 39.3% to BDT 1,009.2m / £8.3m (H1 2014: BDT 724.3 / £5.5m)
Second quarter highlights
• Net sales increased 18.4% to BDT 3,251.8m / £26.6m (2014: BDT 2,746.0m / £20.7m)
• Profit after tax increased 52.7% to BDT 602.5m / £4.9m (2014: BDT 394.5m / £3.0m)
Operational highlights
• Became the first Bangladeshi pharma company to be approved by the US FDA
• Launched 11 products in the domestic market
• Duvent Oral Solution and Onriva 75 Bexicap were launched for the first time in Bangladesh
• Entered five new countries (Australia, Indonesia, Costa Rica, Burundi and Iraq)
• Completed 21 registrations for 19 products in 10 countries
• Became the first Bangladeshi company to launch Salbutamol HFA inhaler in Indonesia
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented:
“During the first half of the year Beximco Pharma achieved a major milestone by becoming the first Bangladeshi company to receive US FDA accreditation. In our export market, sales increased an impressive 64.4% and we entered five new countries. We also achieved 15.4% sales growth in our domestic market and successfully expanded our generics portfolio with several exciting products. Looking ahead, we have good visibility on our order book and remain confident of achieving our expected sales and financial and operational targets for the full year.”
The half yearly accounts can be viewed at the Company’s website: www.beximcopharma.com
(Exchange rates of £1 = Taka 122.25 for 30 June 2015 numbers and £1 = Taka 132.44 for 30 June 2014 have been used in this announcement.)
For further information please visit www.beximcopharma.com or enquire to:
Beximco Pharma
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, Ext.20080
Md. Asad Ullah, FCS, Executive Director & Company Secretary
Tel: +880 2 58611891, +880 2 58612040, Ext 10140
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Sean Wyndham-Quin
Tel: +44 (0)20 3368 3551 / 3555
Daniel Stewart & Company plc (Broker)
Martin Lampshire
Tel: +44 (0)20 7776 6550
FTI Consulting
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 1000
BEXIMCO PHARMACEUTICALS LTD.
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