KUALA LUMPUR: Duopharma Biotech Bhd’s net profit rose 20% to RM16.96mil in the third quarter ended Sept 30, from RM14.12mil a year ago.

       The improved performance was mainly due to higher demand from consumer healthcare and the public health sector.

       Its revenue for the quarter stood at RM171.83mil, up 28.45% from RM133.77mil.

       Cumulatively, net profit jumped 18% in the first nine months this year to RM49.97mil, on the back of a 13% increase in revenue totalling RM493.73mil.

       Duopharma group managing director Leonard Ariff Abdul Shatar said the Government placing greater emphasis on key industries such as pharmaceutical under the recently released 12th Malaysia Plan bodes well for the company’s future earnings.

       The increased allocation for healthcare under the recently tabled Budget 2022 is another positive development, he said.

       “There is no doubt that healthcare and pharmaceuticals will continue to be essential sectors in our lives. We remain confident in the company’s long-term prospects despite the challenging circumstances in 2021,” Leonard said.

       He added that the anticipated economic recovery in the upcoming quarters as more business sectors resume operations after months of movement restrictions will further boost sentiments and consumption among the public.