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Pharmaron Beijing Expects Up to 10% Rise in H1 Attributable Profit

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Pharmaron Beijing (SHE:300759) forecasts a 4% to 10% rise in its net attributable profit to between 729.5 million yuan and 771.5 million yuan in the first half from 701.4 million yuan in the year-ago period, according to a Tuesday filing with the Shenzhen bourse.

The drug research company expects earnings per share to grow to between 0.4024 yuan and 0.4256 yuan from 0.3984 yuan in the year-ago period.

Revenue is expected to rise 16% to 19% to between 7.47 billion yuan and 7.66 billion yuan from 6.44 billion yuan in the prior-year period.

Pharmaron attributed the expected rise to an increase in new orders following the advancement of its small molecule CDMO service pipeline.

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