Malaysian Genomics Reports RM28.36 Million Full-Year Revenue

About this update from Malaysian Genomics Resource Centre Bhd.

* Group's financial performance supported by higher margin and contribution from biopharmaceutical businessPETALING JAYA, Malaysia -- Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, reported revenue of RM6.33 million for the fourth quarter ended 30 June 2022 (4Q 2022) compared with the loss of RM0.07 million in the corresponding quarter of the previous financial year (4Q 2021) on higher contribution from the biopharmaceutical business and continued organic growth of the genetic testing business. The Group recorded a profit before tax (PBT) of RM2.97 million for the quarter under review compared with a loss before tax (LBT) of RM2.11 million in 4Q 2021 due to higher profit margin from the biopharmaceutical business as well as efficient cost monitoring. For the financial year ended 30 June 2022 (FY2022), Malaysian Genomics registered revenue of RM28.36 million, which is an increase of RM26.58 million compared with RM1.78 million reported in the corresponding period of the previous financial year (FY2021) from growth of the biopharmaceutical business comprising of immunotherapy and cell therapies as well as COVID-19-related products and services. The Group recorded PBT of RM6.18 million for FY2022 compared with LBT of RM4.29 million in FY2021 mainly due to higher revenue as a result of higher margin as well as cost efficiencies. Earnings per share for 4Q 2022 stood at 3.25 sen compared with the loss per share of 1.94 sen in the corresponding quarter of the previous financial year. En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics said, "We continue to see improvement in the Group's financial performance, and this is attributable to the introduction of biopharmaceutical services as well as our aggressive push to market genetic testing services. Towards the tail-end of the quarter under review, we acquired a 51% stake in kidney dialysis operator Aquahealth Sdn Bhd in which we intend to introduce a holistic approach to kidney healthcare through our suite of products and services. We also have plans to open more such centres across Malaysia given the projected increase in the number of kidney services." About Malaysian Genomics Resource Centre BerhadMalaysian Genomics Resource Centre Berhad ("Malaysian Genomics" or "the Group") is a leading genomics and biopharmaceutical company based in Southeast Asi...

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