bearish
Kaken Pharmaceutical (4521 JP): Q1 Revenue Is Flat; Profit Falls; Bleak Outlook for FY24
247 Views15 Aug 2023 17:46
SUMMARY
- Kaken Pharmaceutical (4521 JP) reported muted operating performance for Q1FY24. Revenue was flat compared to year-ago quarter, while operating profit declined 19% YoY. Net profit decreased 14% YoY.
- The company has reiterated FY24 guidance of flat revenue and 5% YoY decline in operating profit. However, net profit is expected to increase 23% YoY in FY24 on low base.
- Kaken is not expected to see any immediate respite as the contribution from the new products will not compensate for the revenue loss from its top selling products.
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Tina Banerjee
Global Healthcare Analyst
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