REG - Beximco Pharma. - Half Year Results 2024-25

Beximco PharmaceuticalsAnnouncement

29/01/2025 07:00

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RNS Number : 0191V  Beximco Pharmaceuticals Ltd  29 January 2025

29 January 2025

This announcement contains inside information as stipulated under the UK
version of the Market Abuse Regulation 596/2014 which is part of English Law
by virtue of the European (Withdrawal) Act 2018, as amended. On publication of
this announcement via a regulatory information service, this information is
considered to be in the public domain.

BEXIMCO PHARMACEUTICALS LIMITED

Half Year Results 2024-25

Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"; AIM
Symbol: BXP, LEI No.:213800IMBBD6TIOQGB56), the fast-growing manufacturer of
generic pharmaceutical products and active pharmaceutical ingredients, today
announces its unaudited financial results for the six months ended 31 December
2024.

Financial Highlights

Half year financial highlights

·      Net sales increased 8.8% to Bangladesh Taka ("BDT") 24,013.4m/£
161.5m (2023-24: BDT22,063.6m / £ 157.7m)

o  Domestic sales increased 7.4% to BDT 22,262.3m / £ 149.7m (2023-24: BDT
20,733.4m / £148.2m)

o  Export sales increased 31.6% to BDT 1,751.1m / £ 11.8m (2023-24: BDT
1,330.2m / £9.5m)

·      Profit after tax increased 17.5% to BDT 3,535.0m/£ 23.8m
(2023-24: BDT 3,008.2m / £21.5m)

 

Second quarter financial highlights

·      Net sales increased 12.8% to BDT 12,299.6m / £ 82.7m (2023-24:
BDT 10,904.2m / £77.9m)

·      Profit after tax increased 27.9% to BDT 1,843.1m / £ 12.4m
(2023-24: BDT 1,440.8m / £10.3m)

 

Operational highlights

·      Launched four new products in Bangladesh market

·      Completed 28 new registrations of 27 products across 5 countries

·      Commenced export to four new countries - Cuba, Malta, Qatar and
Angola

 

Beximco Pharma Managing Director, Iqbal Ahmed, commented:

"We're pleased to announce Beximco Pharma's second quarter and half year
results today, demonstrating strong, profitable growth despite persisting
macro-economic challenges. We have launched four new products domestically
while we have experienced further growth internationally through new product
registrations and expansion into new export countries. We look forward to
building on this momentum into the second half of the year and continue to
provide vital medicine to patients across the world."

The half yearly accounts can be viewed at the Company's
website: www.beximcopharma.com (https://beximcopharma.com/)

(Exchange rates of £1=Taka 148.6917 for 31 December 2024 and £1=Taka
139.9145 for 31 December 2023 have been used in this announcement.)

This announcement is available in its entirety at
http://www.rns-pdf.londonstockexchange.com/rns/0191V_1-2025-1-28.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0191V_1-2025-1-28.pdf)

For further information please visit www.beximcopharma.com
(https://beximcopharma.com/)  or enquire to:

Beximco Pharma

S M Rabbur Reza, Chief Operating Officer

Tel: +880 2 58611001, Ext. 20111

Mohammad Ali Nawaz, Chief Financial Officer

Tel: +880 2 58611001, Ext. 20030

Mohammad Asad Ullah, FCS

Executive Director & Company Secretary

Tel: +880 2 41060531, Ext. 10140

SPARK Advisory Partners Limited (Nominated
Adviser)

Mark Brady / Andrew Emmott

Tel: +44 (0)20 3368 3551 / 3555

SP Angel Corporate Finance LLP (Broker)

Matthew Johnson

Tel: +44 (0) 20 3470 0470

FTI Consulting

Simon Conway / Victoria Foster Mitchell / Sam Purewal

Tel: +44 (0)20 3727 1000

Notes to Editors

About Beximco Pharmaceuticals Limited

Beximco Pharma is a leading manufacturer and exporter of medicines based in
Bangladesh. Since its inception in 1976, the Company remains committed to
health and wellbeing of people across all the continents by providing access
to contemporary medicines. Company's broad portfolio of generics encompasses
diverse delivery systems such as tablets, capsules, liquids, semi-solids,
intravenous fluids, metered dose inhalers, dry powder inhalers, sterile
ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser
solutions, oral soluble films etc. The Company also undertakes contract
manufacturing for multinational and leading global generic pharmaceutical
companies.

Beximco Pharma's state-of-the-art manufacturing facilities are certified by
global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin
America, among others and it has a geographic footprint in more than 50
countries. More than 6,000 employees are driving the company towards achieving
its aspiration to be among the most admired companies in the region.

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