The analyst adds: “Although a detailed revenue breakdown was not provided, Hyphens said sales from its specialty pharma principal segment and medical hypermart and digital segment had grown 0.6% y-o-y and 1.9% y-o-y, respectively, to offset the 4.2% decline in sales of its proprietary brands segment.”
CGS-CIMB Research analyst Tay Wee Kuang is keeping his “add” call on Hyphens Pharma International (SGX:1J5
) at a lowered target price of 32 cents from 34 cents previously, following the company’s 3QFY2023 ended Sept 30 results.
In his Nov 27 report, Tay notes that Hyphens' revenue grew 0.1% y-o-y in the quarter, taking its 9MFY2023 revenue to $117.5 million, which was “in-line” at 74.2% of his FY2023 estimate.
