Indies Pharma Reports Improvement in profit

• Indies Pharma Jamaica Limited reported net income of $79.48Mn (EPS: $0.06) for the six-month period ended April 30, 2019. This performance represents a 55.5% improvement relative to the corresponding period of 2018. Normalization of the net profit for exchange gains and losses revealed a growth of 5.0%
• Increases in revenues (+19.9%) coupled with a decline in finance costs (loan interest) to $196,728 down from $7.49Mn helped to boost net profit.
• There was also a slight decline (3.2%) in cost of sales for the period which also partly contributed to an improvement in the bottom line.
• The stock has fallen 1.6% since the start of the calendar year. Indies Pharma closed trading yesterday at $3.13 and currently trades at a P/E of 28.6x earnings which is above the Junior Market Distribution sector average of 21.6x.

 (Source: Indies Pharma Financials)