JAKARTA - PT Phapros Tbk (PEHA), a pharmaceutical product manufacturer, readies dividend of IDR 11.2 billion that will be taken out of its net profit in 2022.

This decision was made official during the Annual General Shareholders Meeting held earlier today (8/6).

In said meeting, the shareholders agreed upon the allocation of 40% of the net profit gained in the fiscal year 2022 as cash dividend, which is equal to IDR 13.37 per share. “This amount is almost 68% higher than the dividend per share set for the fiscal year 2021,” David Sidjabat, Director of Finance of Phapros, mentioned.

As mentioned before, in 2023, Phapros is attempting to upgrade its portfolio and redirect its business focus from generic drugs (OGB) to over-the-counter (OTC) and ethical drugs. Unfortunately, this vision is yet to align with its latest performance until Q1 2023, in which OTC sales dropped up to 39% year-on-year (yoy) from IDR 56.1 billion to IDR 34 billion. On the contrary, OGB sales were seen increasing 7.17% yoy to IDR 123.9 billion.

Despite the significant rise in its revenue and profit at the end of 2022, Phapros recorded sales and net profit declines in Q1 2023. “OTC drugs’ sales shrank, because the demand for COVID-19-related drugs gets lower,” Hadi Kardoko, President Director of Phapros, further stated.

Until the end of March 2023, Phapros’s sales were down to IDR 261 billion, while the current year’s net profit dropped to IDR 4.5 billion. “However, we are confident to book growth at the end of this year,” Kardoko added. (ZH)