JBM Healthcare Announces FY2024 Annual Results

KEY HIGHLIGHTS

  • Year-on-year revenue increased by 24.6%, totalling HK$648.4 million
  • Adjusted profit attributable to equity shareholders* soared 149.5% to HK$130.5 million
  • The Board recommends a final dividend of HK4.05 cents per share
  • All three business segments exhibited robust growth momentum
  • Flagship proprietary brands Ho Chai Kung and Po Chai Pills led with impressive growth
  • Cross-border e-commerce continued to grow on various platforms

HONG KONG, June 18, 2024 – (ACN Newswire via SeaPRwire.com) – JBM (Healthcare) Limited (“JBM Healthcare” or the “Company”; Stock Code: 2161, together with its subsidiaries, the “Group”), a leading branded healthcare products marketer and distributor in Hong Kong, today announced the annual results of the Group for the year ended 31 March 2024 (“FY2024” or the “Reporting Period”).

During the Reporting Period, the Group’s branded healthcare business achieved a 24.6% increase in revenue, totaling HK$648.4 million. Gross profit for the same period rose by 64.5% to HK$338.1 million. Adjusted profit attributable to equity shareholders* surged by 149.5% to HK$130.5 million. This robust performance is primarily due to improved retail market sentiment and successful marketing strategies for key brands in the proprietary medicine category, notably Ho Chai Kung and Po Chai Pills.

The Board recommends a final dividend of HK4.05 cents per share. Including the interim dividend of HK3.45 cents per share already paid, the total dividend for FY2024 will be HK7.5 cents per share.

Effective Brand Management Fueled Robust Performance

In the branded medicines business, sales revenue achieved a significant growth of 53.3%, primarily attributable to the remarkable performance of Ho Chai Kung products. A widely recognised household name for over-the-counter painkillers and fever relief, Ho Chai Kung has experienced a significant boost in sales, which is attributed to its effective brand marketing strategy alongside effective sales channel management. The brand’s launch of a new TV advertising campaign featuring celebrity Hins Cheung, has received a tremendous response from the audience. The creative campaign, “Trust Hin Gong, Use Ho Chai Kung”, garnered substantial views and likes across various social media platforms, creating a trending topic in the city and significantly enhancing the brand’s visibility in Hong Kong.

The proprietary Chinese medicines segment exhibited an overall 7.3% increase in revenue, fueled by the strong growth of Po Chai Pills and the sustained momentum of the Group’s concentrated Chinese medicine granules business. During the Reporting Period, Po Chai Pills successfully launched a new TV advertisement named “Ivana’s Po Chai Pills Digestive Tune” targeting a younger audience and reinforcing its leadership in Chinese gastrointestinal medicine. Renowned singer-song writer Ivana Wong lends her voice to a revamped version of the classic jingle, “Take Po Chai Pills for Rapid Relief”, which resonates with viewers, invokes nostalgic memories and revitalises the brand.

Sustained Development in Cross-Border E-commerce  

The Group’s cross-border e-commerce division continued its growth trajectory and remained a consistent contributor to the Group’s profits. This was driven by strong demand for its proprietary brands, such as Ho Chai Kung and Po Chia Pills, as well as solid performances in the medical devices and beauty products segments. In the fourth quarter of 2023, the Group launched its Tmall Ho Chai Kung Overseas Flagship Store, intending to bolster the brand’s image and recognition while expanding its consumer base in Mainland China.

Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare, commented, “In FY2024, JBM Healthcare capitalised on promising growth opportunities amid the notable rebound of Hong Kong’s retail sector, leveraging our strategic acumen and robust execution.”

“As we forge ahead, we are poised to harness transformative trends in healthcare. We will prioritise operational excellence, productivity, and shareholder value while enhancing efficiency and actively expanding its sales platforms and geographic reach. By providing trusted, branded healthcare products, JBM Healthcare empowers consumers to better manage their health, aligning with its mission.”

About JBM (Healthcare) Limited (Stock Code: 2161)

JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia, and other select countries. The Group is a distinctive player in the sector with marketing expertise and heritage in pharmaceuticals that prioritises product efficacy and quality to meet consumers’ healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines, and health and wellness products, which include well-recognised household brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex, Mederma for Kids, Tong Tai Chung Woodlok Oil, Flying Eagle Woodlok Oil, Saplingtan, Shiling Oil and Konsodona Medicated Oil. JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk 

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