Hyphens Pharma FY2025 net profit drops 44% to S$6.1m on FX losses and stock provisions, despite record gross margin and 33% growth in Proprietary Brands
Summary:
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FY2025 revenue fell 9.2% to S$177.4 million, but gross profit rose 3.8% to S$72.2 million with gross margin climbing to a historical high of 40.7% on portfolio optimisation and a richer mix of higher‑margin products.
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Net profit after tax declined 43.6% to S$6.1 million as the Group booked S$5.9 million of other losses, including S$2.8 million FX losses, S$3.9 million stock provisions/write‑offs (mainly Sterimar) and a S$0.6 million provision on a Vietnam Hypermart loan.
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Proprietary Brands segment revenue jumped 33.1% to S$36.7 million, driven by the addition of Visiopro and Fenosup and strong demand for Ceradan dermatological products and Ocean Health supplements, partly offsetting weaker Pharmaceutical & Medical Aesthetics and Digital Platform & e‑Pharmacy sales.
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Operating cash flow was robust at S$18.7 million and cash and cash equivalents increased to S$26.8 million, underpinning continued investment in portfolio expansion, PharmaTech initiatives (POM and Wellaway) and AI‑driven tools such as the e‑MSL module.
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The board proposes a final dividend of 1.5 Singapore cents per share, above its 30% payout policy, and signals continued focus on scaling Proprietary Brands, medical aesthetics, digital platforms and bolt‑on acquisitions such as the remaining tranche of Ardence Pharma.