Beximco Pharmaceuticals posts financial progress

Generic pharmaceuticals and ingredients company Beximco Pharmaceuticals (LON: BXP) booked improvements across its fundamentals during their first quarter.

While the Company’s current assets dropped by around half a billion taka to 12.75 billion during the first quarter, their financial results reflected impressive progress in year-on-year comparisons.

Company revenues bounced by over 900 million on-year to 6.3 billion taka. This led Beximco’s surge in profits, which were up from 2.53 billion to 2.94 billion taka pn-year, despite the Company’s operating expenses expanding by 200 million during the same period comparison.

Beximco shareholders enjoyed similar progress, with the Group’s earnings per share rising from 1.86Tk to 2.13Tk.

Elsewhere in pharmaceutical and chemical news, IMCD N.V. (AMS: IMCD), Amryt Pharma Holdings Ltd (LON: AMYT), Curetis NC (AMS: CURE) and Integumen PLC (LON: SKIN) also boasted financial progress.

Beximco comments

Mr. Nazmul Hassan MP, Company Managing Director, responded to today’s update,

“Building on the impressive financial and operational performance we delivered last year, we enter the first quarter of the current financial year with strong year-on-year growth, supported by our continued focus on expanding our product portfolio and strengthening our international presence. In line with this growth strategy, we launched our fifth product in the US during the quarter. We look forward to continuing to build on this momentum and deliver value for our shareholders in the year ahead.”

Investor notes

The Company’s shares rallied 1.21% or 0.50p to 41.00p per share 14/11/19. The Group’s p/e ratio is 8.20, their dividend yield stands at 4.31% and their market cap is £166.28 million.

Previous articleHSBC and Emirates set to cut jobs in UAE
Next articleAsda blame political uncertainties for quarterly slump
Senior Journalist at the UK Investor Magazine. Also a contributing writer at the Investment Observer, UK Property Journal and UK Startup Magazine. Postgraduate of King's College London with a specialisation in Business Ethics. Interested in Development Economics and David Hume.