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CSPC Pharmaceutical Q1 profit climbs 28.8% YOY

CSPC Pharmaceutical Group Ltd. said profit for three months ended March 31 grew by 28.8% year over year.

Profit attributable to owners of the company totaled 951.83 million Chinese yuan from 738.84 million yuan in the prior-year period.

Basic EPS came in at 15.26 yuan, up from 11.83 yuan in 2018.

Total revenue rose 25.6% on an annual basis to 5.49 billion yuan from 4.38 billion yuan.

CSPC Pharmaceutical noted the continuing good performance of its finished drug business, which booked a 33.7% yearly growth in sales to 4.24 billion yuan. Meanwhile, the Chinese drugmaker's vitamin C business recorded a 4.5% year-over-year decrease in sales to 523.6 million yuan from 548.2 million.

As of May 20, US$1 was equivalent to 6.91 Chinese yuan.