“We think Hyphens Pharma also benefitted from revenue contribution from new products added to its portfolio, such as infant care products from Laboratoires Gilbert S.A.S., for which [the group] took over distributorship (as of 2H2023) in countries where the brand has an existing sales presence,” says Tay in his March 13 report.
Analysts are remaining positive on Hyphens Pharma as the pharmaceutical and consumer healthcare group reported a net profit of $8.6 million for the FY2023 ended Dec 31, 2023.
CGS International analyst Tay Wee Kuang has kept his “add” call as the group’s earnings stood above his expectations at 107.3% of his full-year estimate. The outperformance comes as Hyphens Pharma’s sales hit a record-high in the 4QFY2023.
