- Hyphens Pharma International (SGX:1J5)’s revenue grew 0.1% y-o-y in 3Q23 to bring 9M23 revenue to S$117.5m, in line at 74.2% of our FY23F estimate.
Revenue at a record level…
- - Read this at SGinvestors.io -
… but profitability dented by inflationary pressure
- Hyphens cited “inflationary cost pressures” for the 4.8% pt y-o-y decline in gross profit margin to 35.4% in 3Q23. We think the discontinuation of Hyphens’s distributorship of Biosensors products in Vietnam, which led to a gross profit margin compression of 1.4% pt in 1H23, had a similar impact on 3Q23 gross profit margin, given that the distributorship only ceased in 4Q22.
- - Read this at SGinvestors.io -
Revenue momentum should improve, margins could remain compressed
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
TAY Wee Kuang CGS-CIMB Research | https://www.cgs-cimb.com 2023-11-27
Previous report by CGS-CIMB:
2023-10-20 Hyphens Pharma International - Displaying Appetite For Growth.
Price targets by 3 other brokers at Hyphens Pharma Target Prices.
Listing of research reports at Hyphens Pharma Analyst Reports.
Relevant links:
Hyphens Pharma Share Price History,
Hyphens Pharma Announcements,
Hyphens Pharma Dividends & Corporate Actions,
Hyphens Pharma News Articles
