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Monday, 23 May 2022, 21:00 HKT/SGT
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Source: Malaysian Genomics Resource Centre Berhad
Malaysian Genomics Resource Centre Berhad Posts 212% Increase in Revenue for 3Q FY2022
- 9-month revenue up nearly 12-fold to RM22.03 million
- Profit supported by higher margin immunotherapy and cell therapies

PETALING JAYA, Malaysia, May 23, 2022 - (ACN Newswire) - Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today announced that the Group registered a 211.66% increase in revenue to RM5.08 million for the third quarter ended 31 March 2022 (3Q 2022) compared with revenue of RM1.63 million for the same quarter of the previous financial year.

Azri Azerai, Executive Director of Malaysian Genomics Resource Centre Berhad

For the quarter under review, the Group posted profit before tax (PBT) of RM1.96 million compared with PBT of RM0.2 million in 3Q 2021. Earnings per share (EPS) stood at 1.60 sen for 3Q 2022 compared with EPS of 0.19 sen in the corresponding quarter of the previous financial year.

For the nine months ended 31 March 2022 (9M FY2022), Malaysian Genomics registered a nearly 12-fold increase in revenue to RM22.03 million compared with RM1.85 million in 9M FY2021. The Group registered RM3.21 million in PBT for 9M FY2022 compared with a loss before tax of RM2.2 million in the corresponding period of the preceding financial year.

Encik Noor Azri bin Dato' Sri Noor Azerai (Azri Azerai), Executive Director of Malaysian Genomics, said, "The improvement in revenue for the quarter under review was due to the Group's diversification into biopharmaceutical services, primarily the distribution of immunotherapy and cell therapies, together with higher demand for genetic screening services following the reopening of the economy. COVID-19 vaccine administration and distribution contributed to our revenue growth as well."

"Our PBT was supported by higher margin from the Group's successful and ongoing penetration into the distribution of immunotherapy and cell therapies. We continue to seek partnerships and opportunities in which we can have a wider market reach for our services, while our laboratory's Current Good Manufacturing Practice approval will add value to our capabilities, including the production of CAR T-cells for solid cancers as well as the contract manufacturing of other types of cells for third-parties that will generate new revenue streams."

Malaysian Genomics Resource Centre Berhad: http://www.mgrc.com.my/
Malaysian Genomics Resource Centre Berhad: 0155 / [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK]


Topic: Press release summary
Source: Malaysian Genomics Resource Centre Berhad

Sectors: Daily News, BioTech, Healthcare & Pharm, Local Biz
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