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CSPC Pharmaceutical Q1 profit up 42.6% YOY

CSPC Pharmaceutical Group Ltd. said profit for the three months ended March 31 rose 42.6%, while revenue increased 55.2%.

Profit attributable to owners of the company reached about HK$909.9 million for the period, up from about HK$637.9 million a year ago.

The Chinese pharmaceutical company's basic EPS for the quarter was 14.57 Hong Kong cents, up from 10.54 cents in 2017.

Total revenue rose to about HK$5.39 billion, up from about HK$3.47 billion in the year-ago period.

CSPC Pharmaceutical noted strong growth in its finished drug business, which generated HK$4.05 billion in sales for the first quarter, up 58.5% year over year. The group's bulk drug business also saw a significant increase in profit, the company said.