Net income of PT Kalbe Farma Tbk (KLBF) rose 14.2% in the first half of 2013 to Rp 922 billion. The rise in profits was driven significant sales growth.
In line with net income, earnings per share also increased to Rp 20 per share from Rp 17 per share. While net sales grew by 18.9% to Rp 7.421 trillion from Rp 6.244 trillion in the same period in 2012.
“Despite rising inflation, we see the demand for pharmaceutical products, consumer health and nutrition products can last up to the first half of 2013,” said Chief Financial Officer and Corporate Secretary Kalbe Vidjongtius in a press release on Wednesday (31/07/2013).
Gross profit increased by 18.3% to Rp 3,623 billion, in line with sales growth. The ratio of gross profit to sales decreased 0.3% to 48.8% from 49.1% in the first half of last year, among others, due to the impact of the depreciation of Rupiah and change the composition of the business.
“We remain wary of the rupiah and anticipate continued volatility in the short term and their impact on the Company’s margins. Nevertheless, we remain confident of achieving the target this year,” he said.
Prescription Drug Division recorded net sales of Rp 1,887 trillion, up 18.1%, driven mainly by volume growth. Prescription Drug division contributed 25% to total net sales.
Health Division recorded growth of 19% to net sales of Rp 1,194 trillion. Health Division contributed 16% to total sales
Nutrition Division maintains the momentum achieved net sales of USD 1.759 trillion, an increase of 32.1% over the same period in 2012. Nutrition division now contributes 24% to total sales.
Distribution and Logistics division grew 11.6% to reach sales of Rp 2,581 billion. Distribution and Logistics division contributed 35% to total net sales, down from 37% in the first half of 2012.