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Sinopharm Group FY'19 profit up 7.1%; revenue rises 23.4%

Shanghai-based Sinopharm Group Co. Ltd.'s profit for full-year 2019 grew 7.1% year over year, while revenue rose 23.4%.

Profit attributable to equity holders of the parent for the year reached 6.25 billion Chinese yuan, up from 5.84 billion yuan in 2018.

Diluted EPS was 2.10 yuan, up from 1.96 yuan in the previous year.

Revenue for the year ended Dec. 31, 2019, was 425.27 billion yuan, up from 344.53 billion yuan a year earlier.

Sinopharm, a wholesaler and retailer of pharmaceutical and healthcare products, booked 2019 operating profit of 16.14 billion yuan, up from 14.07 billion yuan in 2018.

Due to disruptions caused by the COVID-19 pandemic, Sinopharm said its board expects the company's performance for the first quarter ending March 31 may decline on a year-on-year basis.

As of March 27, US$1 was equivalent to 7.10 Chinese yuan.