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KUALA LUMPUR: Malaysian Genomics Resource Centre Bhd (MGRC) is expanding in Southeast Asia and the Middle East through a series of agreements.
Chief executive officer Sasha Nordin, in a statement, said the company inked some agreements in which it would collaborate with local partners to promote, market and distribute its biopharmaceutical and genetic testing services.
The genomics and biopharmaceutical specialist reported a net profit of RM4mil in the fourth quarter ended June 30 from a net loss of RM2.1mil on higher profit margin from the biopharmaceutical business as well as efficient cost monitoring.
Earnings per share for 4Q stood at 3.25 sen compared with the loss per share of 1.94 sen in the corresponding quarter of the previous financial year.,
Its revenue for the quarter stood at RM6.33mil compared with the loss of RM69,000 in the corresponding quarter last year on higher contribution from the biopharmaceutical business and continued organic growth of the genetic testing business.
For the full financial year ended June 30, MGRC posted a net profit of RM7.21mil against a net loss of RM4.3mil last year while revenue rose to RM28.4mil from RM1.8mil previously.
“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 patients,” Sasha said.