Hyphens Pharma 1J5

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Financials

Annual Report 2025

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43 tables

Group / Company financial position — FY2025 source

28 metrics

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Group / Company financial position — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Non-current assets
Plant and equipmentSingapore dollars thousands 3,8664,89848 PDF p. 50
Intangible assetsSingapore dollars thousands 23,98924,530–– PDF p. 50
Investments in subsidiariesSingapore dollars thousands ––19,98619,986 PDF p. 50
Deferred tax assetsSingapore dollars thousands 145234–– PDF p. 50
Total non-current assetsSingapore dollars thousands 28,00029,66219,99019,994 PDF p. 50
Current assets
InventoriesSingapore dollars thousands 29,33534,445–– PDF p. 50
Trade and other receivablesSingapore dollars thousands 34,96945,42320,42420,600 PDF p. 50
PrepaymentsSingapore dollars thousands 4,4372,530101119 PDF p. 50
Other financial assetsSingapore dollars thousands 20270–– PDF p. 50
Cash and cash equivalentsSingapore dollars thousands 26,83423,420208106 PDF p. 50
Total current assetsSingapore dollars thousands 95,595106,08820,73320,825 PDF p. 50
Total assetsSingapore dollars thousands 123,595135,75040,72340,819 PDF p. 50
Equity
Share capitalSingapore dollars thousands 35,21635,21635,21635,216 PDF p. 50
Treasury sharesSingapore dollars thousands (87)(85)(87)(85) PDF p. 50
Retained earningsSingapore dollars thousands 43,49945,2314,6744,654 PDF p. 50
Other reservesSingapore dollars thousands (8,569)(9,464)–– PDF p. 50
Equity attributable to equity
holders of the CompanySingapore dollars thousands 70,05970,89839,80339,785 PDF p. 50
Non-controlling interestsSingapore dollars thousands 2,5093,568–– PDF p. 50
Total equitySingapore dollars thousands 72,56874,46639,80339,785 PDF p. 50
Non-current liabilities
Deferred tax liabilitiesSingapore dollars thousands 8481,024–– PDF p. 50
Other financial liabilitiesSingapore dollars thousands 3,1082,573–– PDF p. 50
Total non-current liabilitiesSingapore dollars thousands 3,9563,597–– PDF p. 50
Current liabilities
Income tax payableSingapore dollars thousands 2,1782,576–– PDF p. 50
Other financial liabilitiesSingapore dollars thousands 6,32011,541–– PDF p. 50
Trade and other payablesSingapore dollars thousands 38,57343,5709201,034 PDF p. 50
Total current liabilitiesSingapore dollars thousands 47,07157,6879201,034 PDF p. 50
Total liabilitiesSingapore dollars thousands 51,02761,2849201,034 PDF p. 50
Total equity and liabilitiesSingapore dollars thousands 123,595135,75040,72340,819 PDF p. 50
Definitions & sources

Consolidated profit and comprehensive income — FY2025 source

20 metrics

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Consolidated profit and comprehensive income — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Consolidated profit and comprehensive income — FY2025 source
RevenueSingapore dollars thousands 177,367195,420 PDF p. 49
Cost of salesSingapore dollars thousands (105,185)(125,913) PDF p. 49
Gross profitSingapore dollars thousands 72,18269,507 PDF p. 49
Other income and gainsSingapore dollars thousands 386693 PDF p. 49
Distribution costsSingapore dollars thousands (40,854)(39,739) PDF p. 49
Administrative expensesSingapore dollars thousands (15,529)(15,232) PDF p. 49
Finance costsSingapore dollars thousands (520)(565) PDF p. 49
Other lossesSingapore dollars thousands (7,603)(1,705) PDF p. 49
Profit before taxSingapore dollars thousands 8,06212,959 PDF p. 49
Income tax expenseSingapore dollars thousands (1,945)(2,104) PDF p. 49
Profit for the yearSingapore dollars thousands 6,11710,855 PDF p. 49
Items that may be reclassified subsequently to
profit or loss Exchange differences on translating foreign operations, net of taxSingapore dollars thousands 882625 PDF p. 49 Label p. 49
Other comprehensive income for the year, net of taxSingapore dollars thousands 882625 PDF p. 49
Total comprehensive income for the yearSingapore dollars thousands 6,99911,480 PDF p. 49
Profit for the year attributable to: Equity holders of the CompanySingapore dollars thousands 5,84410,194 PDF p. 49 Label p. 49
Non-controlling interestsSingapore dollars thousands 273661 PDF p. 49
SubtotalSingapore dollars thousands 6,11710,855 PDF p. 49
Total comprehensive income for the year attributable to:
Equity holders of the CompanySingapore dollars thousands 6,73910,760 PDF p. 49
Non-controlling interestsSingapore dollars thousands 260720 PDF p. 49
SubtotalSingapore dollars thousands 6,99911,480 PDF p. 49
Definitions & sources

Basic / diluted EPS — FY2025 source

2 metrics

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Basic / diluted EPS — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Earnings per share currency unit
BasicSingapore cents per share 1.893.30 PDF p. 49
DilutedSingapore cents per share 1.863.24 PDF p. 49
Definitions & sources

Group changes in equity — FY2025 source — ending2025

6 metrics

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Group changes in equity — FY2025 source — ending2025 from Annual Report 2025
Metric / unit 2025Group — Share capital2025Group — Treasury shares2025Group — Retained earnings2025Group — Other reserves2025Group — Equity attributable to owners2025Group — Non-controlling interests2025Group — Total equity Source
Group
Current year At 1 January 2025 35,216Singapore dollars thousands 35,216(85)45,231(9,464)70,8983,56874,466 PDF p. 51 Label p. 51
Changes in equity Total comprehensive income for the yearSingapore dollars thousands ––5,8448956,7392606,999 PDF p. 51 Label p. 51
Dividends paid (Note 13)Singapore dollars thousands ––(4,633)–(4,633)(847)(5,480) PDF p. 51
Purchase of treasury shares (Note 20)Singapore dollars thousands –(2)––(2)–(2) PDF p. 51 Label p. 51
Acquisition of non-controlling interests without change in control (Note 16)Singapore dollars thousands ––(2,943)–(2,943)(472)(3,415) PDF p. 51 Label p. 51
At 31 December 2025 35,216Singapore dollars thousands 35,216(87)43,499(8,569)70,0592,50972,568 PDF p. 51
Definitions & sources

Group changes in equity — FY2025 source — ending2024

7 metrics

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Group changes in equity — FY2025 source — ending2024 from Annual Report 2025
Metric / unit 2024Group — Share capital2024Group — Treasury shares2024Group — Retained earnings2024Group — Other reserves2024Group — Equity attributable to owners2024Group — Non-controlling interests2024Group — Total equity Source
Group
Previous year At 1 January 2024 35,216Singapore dollars thousands 35,216–37,765(9,995)62,9862,87665,862 PDF p. 51 Label p. 51
Changes in equity Total comprehensive income for the yearSingapore dollars thousands ––10,19456610,76072011,480 PDF p. 51 Label p. 51
Dividends paid (Note 13)Singapore dollars thousands ––(2,656)–(2,656)–(2,656) PDF p. 51
Share-based payments (Note 22)Singapore dollars thousands –––(35)(35)–(35) PDF p. 51
Purchase of treasury shares (Note 20)Singapore dollars thousands –(85)––(85)–(85) PDF p. 51 Label p. 51
Acquisition of non-controlling interests without change in control (Note 16)Singapore dollars thousands ––(72)–(72)(28)(100) PDF p. 51 Label p. 51
At 31 December 2024 35,216Singapore dollars thousands 35,216(85)45,231(9,464)70,8983,56874,466 PDF p. 51
Definitions & sources

Company changes in equity — FY2025 source — ending2025

5 metrics

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Company changes in equity — FY2025 source — ending2025 from Annual Report 2025
Metric / unit 2025Company — Share capital2025Company — Treasury shares2025Company — Retained earnings2025Company — Other reserves2025Company — Total equity Source
Company
Current year At 1 January 2025 35,216Singapore dollars thousands 35,216(85)4,654–39,785 PDF p. 52 Label p. 52
Changes in equity Total comprehensive income for the yearSingapore dollars thousands ––4,653–4,653 PDF p. 52 Label p. 52
Dividends paid (Note 13)Singapore dollars thousands ––(4,633)–(4,633) PDF p. 52
Purchase of treasury shares (Note 20)Singapore dollars thousands –(2)––(2) PDF p. 52
At 31 December 2025 35,216Singapore dollars thousands 35,216(87)4,674–39,803 PDF p. 52
Definitions & sources

Company changes in equity — FY2025 source — ending2024

6 metrics

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Company changes in equity — FY2025 source — ending2024 from Annual Report 2025
Metric / unit 2024Company — Share capital2024Company — Treasury shares2024Company — Retained earnings2024Company — Other reserves2024Company — Total equity Source
Company
Previous year At 1 January 2024 35,216Singapore dollars thousands 35,216–2,8373538,088 PDF p. 52 Label p. 52
Changes in equity Total comprehensive income for the yearSingapore dollars thousands ––4,473–4,473 PDF p. 52 Label p. 52
Dividends paid (Note 13)Singapore dollars thousands ––(2,656)–(2,656) PDF p. 52
Purchase of treasury shares (Note 20)Singapore dollars thousands –(85)––(85) PDF p. 52
Share-based payments (Note 22)Singapore dollars thousands –––(35)(35) PDF p. 52
At 31 December 2024 35,216Singapore dollars thousands 35,216(85)4,654–39,785 PDF p. 52
Definitions & sources

Consolidated cash flows — FY2025 source

33 metrics

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Consolidated cash flows — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Cash flows from operating activities
Profit before taxSingapore dollars thousands 8,06212,959 PDF p. 53
Adjustments for:
Amortisation of intangible assetsSingapore dollars thousands 1,0441,043 PDF p. 53
Depreciation of plant and equipmentSingapore dollars thousands 1,7672,012 PDF p. 53
Interest incomeSingapore dollars thousands (55)(150) PDF p. 53
Interest expenseSingapore dollars thousands 520565 PDF p. 53
Loss/(gain) on disposal of plant and equipmentSingapore dollars thousands 88(5) PDF p. 53
Changes in fair value of derivative instruments at FVTPLSingapore dollars thousands 250(180) PDF p. 53
Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands 842657 PDF p. 53
Operating cash flows before changes in working capitalSingapore dollars thousands 12,51816,901 PDF p. 53
Trade and other receivablesSingapore dollars thousands 10,454(4,182) PDF p. 53
PrepaymentsSingapore dollars thousands (1,907)(474) PDF p. 53
InventoriesSingapore dollars thousands 5,110(8,916) PDF p. 53
Trade and other payablesSingapore dollars thousands (4,997)(915) PDF p. 53
Net cash flows from operationsSingapore dollars thousands 21,1782,414 PDF p. 53
Income taxes paidSingapore dollars thousands (2,430)(2,354) PDF p. 53
Net cash generated from operating activitiesSingapore dollars thousands 18,74860 PDF p. 53
Cash flows from investing activities
Purchase of plant and equipment (Notes 14 and 19A)Singapore dollars thousands (755)(1,183) PDF p. 53
Purchase of intangible assetsSingapore dollars thousands (503)(1,998) PDF p. 53
Acquisition of non-controlling interests (Notes 16 and 27)Singapore dollars thousands (3,415)(100) PDF p. 53
Proceeds from disposal of plant and equipmentSingapore dollars thousands –10 PDF p. 53
Interest receivedSingapore dollars thousands 55150 PDF p. 53
Net cash used in investing activitiesSingapore dollars thousands (4,618)(3,121) PDF p. 53
Cash flows from financing activities
Dividends paid to equity owners of the CompanySingapore dollars thousands (4,633)(2,656) PDF p. 53
Dividends paid to non-controlling interestsSingapore dollars thousands (847)– PDF p. 53
Payment of lease liabilitiesSingapore dollars thousands (1,468)(1,568) PDF p. 53
Increase in new loans and borrowingsSingapore dollars thousands 12,9009,009 PDF p. 53
Loans and borrowings paidSingapore dollars thousands (16,303)(1,250) PDF p. 53
Purchase of treasury shares (Note 20)Singapore dollars thousands (2)(85) PDF p. 53
Interest paidSingapore dollars thousands (363)(338) PDF p. 53
Net cash (used in)/generated from financing activitiesSingapore dollars thousands (10,716)3,112 PDF p. 53
Net increase in cash and cash equivalentsSingapore dollars thousands 3,41451 PDF p. 53
Cash and cash equivalents at beginning of yearSingapore dollars thousands 23,42023,369 PDF p. 53
Cash and cash equivalents at end of year (Note 19)Singapore dollars thousands 26,83423,420 PDF p. 53
Definitions & sources

Revenue / profit chart — original FY2025 highlights

2 metrics

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Revenue / profit chart — original FY2025 highlights from Annual Report 2025
Metric / unit 2025Group — original highlights2024Group — original highlights2023Group — original highlights Source
Original financial highlights
REVENUESingapore dollars millions 177.4195.4170.6 PDF p. 14
PROFIT, NET OF TAXSingapore dollars millions 6.110.98.6 PDF p. 14
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

Revenue by business segment — original FY2025 highlights

3 metrics

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Revenue by business segment — original FY2025 highlights from Annual Report 2025
Metric / unit 2025Group — original highlights2024Group — original highlights2023Group — original highlights Source
Original financial highlights
Pharmaceutical & Medical AestheticsSingapore dollars millions 101.3124.2102.2 PDF p. 14
Proprietary BrandsSingapore dollars millions 36.727.625.7 PDF p. 14
Digital Platform & E-PharmacySingapore dollars millions 39.443.642.7 PDF p. 14
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

Revenue by geography — original FY2025 highlights

4 metrics

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Revenue by geography — original FY2025 highlights from Annual Report 2025
Metric / unit 2025Group — original highlights2024Group — original highlights2023Group — original highlights Source
Original financial highlights
SingaporeSingapore dollars millions 93.290.985.0 PDF p. 14
VietnamSingapore dollars millions 39.557.149.0 PDF p. 14
MalaysiaSingapore dollars millions 27.425.817.2 PDF p. 14
OthersSingapore dollars millions 17.321.619.4 PDF p. 14
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

EPS calculation inputs — Note12

4 metrics

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EPS calculation inputs — Note12 from Annual Report 2025
Metric / unit 2025Group2024Group Source
EPS calculation inputs — Note12
Profit attributable to owners of the CompanySingapore dollars thousands 5,84410,194 PDF p. 74
Basicthousand shares 308,874308,958 PDF p. 74
Dilutive share awards effectthousand shares 5,8545,854 PDF p. 74
Dilutedthousand shares 314,728314,812 PDF p. 74
Definitions & sources

Share counts are in thousands; the dilution derives from performance share awards.

Dividends paid / proposed at year-end — Note13

2 metrics

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Dividends paid / proposed at year-end — Note13 from Annual Report 2025
Metric / unit 2025Group and Company2024Group and Company Source
Dividends paid / proposed at year-end — Note13
Final exempt (1-tier) dividends paid of 1.50 centsSingapore dollars thousands 4,6332,656 PDF p. 74
Final exempt (1-tier) dividends proposed of 1.50 centsSingapore dollars thousands 4,6334,633 PDF p. 74
Definitions & sources

The paid column identifies the year in which payment occurred. Proposed dividends were not liabilities at the respective year-ends and were subject to shareholder approval at the annual report date.

Paid dividend rate — attributable financial year

1 metrics

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Paid dividend rate — attributable financial year from Annual Report 2025
Metric / unit 2024Group and Company — attributable dividend year2023Group and Company — attributable dividend year Source
Paid dividend rate — attributable financial year
Final exempt (1-tier) dividendsSingapore cents per share 1.500.86 PDF p. 74
Definitions & sources

Proposed dividend rate — respective financial year-end

1 metrics

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Proposed dividend rate — respective financial year-end from Annual Report 2025
Metric / unit 2025Group and Company — attributable dividend year2024Group and Company — attributable dividend year Source
Proposed dividend rate — respective financial year-end
Final exempt (1-tier) dividendsSingapore cents per share 1.501.50 PDF p. 74
Definitions & sources

Group / Company financial position — FY2023 source

28 metrics

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Group / Company financial position — FY2023 source from Annual Report 2025
Metric / unit 2023Group2022Group2023Company2022Company Source
Non-current assets
Plant and equipmentSingapore dollars thousands 4,8643,017937 PDF p. 92
Intangible assetsSingapore dollars thousands 23,57519,072–– PDF p. 92
Investments in subsidiariesSingapore dollars thousands ––19,88619,886 PDF p. 92
Investment in an associateSingapore dollars thousands –2,667–– PDF p. 92
Deferred tax assetsSingapore dollars thousands 17261–– PDF p. 92
Total non-current assetsSingapore dollars thousands 28,61124,81719,89519,923 PDF p. 92
Current assets
InventoriesSingapore dollars thousands 25,52921,260–– PDF p. 92
Trade and other receivablesSingapore dollars thousands 41,11031,10618,84120,678 PDF p. 92
PrepaymentsSingapore dollars thousands 2,05680677174 PDF p. 92
Other financial assetsSingapore dollars thousands 90––– PDF p. 92
Cash and cash equivalentsSingapore dollars thousands 23,36936,4803564,656 PDF p. 92
Total current assetsSingapore dollars thousands 92,15489,65219,27425,508 PDF p. 92
Total assetsSingapore dollars thousands 120,765114,46939,16945,431 PDF p. 92
Equity
Share capitalSingapore dollars thousands 35,21635,08335,21635,083 PDF p. 92
Retained earningsSingapore dollars thousands 37,76543,7602,8378,714 PDF p. 92
Other reservesSingapore dollars thousands (9,995)(9,816)35– PDF p. 92
Equity attributable to equity holders of the
CompanySingapore dollars thousands 62,98669,02738,08843,797 PDF p. 92
Non-controlling interestsSingapore dollars thousands 2,8761,245–– PDF p. 92
Total equitySingapore dollars thousands 65,86270,27238,08843,797 PDF p. 92
Non-current liabilities
Deferred tax liabilitiesSingapore dollars thousands 1,253793–– PDF p. 92
Other financial liabilities, non-currentSingapore dollars thousands 4,4063,330–– PDF p. 92
Total non-current liabilitiesSingapore dollars thousands 5,6594,123–– PDF p. 92
Current liabilities
Income tax payableSingapore dollars thousands 2,5352,657–14 PDF p. 92
Other financial liabilities, currentSingapore dollars thousands 2,4162,340–– PDF p. 92
Trade and other payablesSingapore dollars thousands 44,29335,0771,0811,620 PDF p. 92
Total current liabilitiesSingapore dollars thousands 49,24440,0741,0811,634 PDF p. 92
Total liabilitiesSingapore dollars thousands 54,90344,1971,0811,634 PDF p. 92
Total equity and liabilitiesSingapore dollars thousands 120,765114,46939,16945,431 PDF p. 92
Definitions & sources

Consolidated profit and comprehensive income — FY2023 source

21 metrics

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Consolidated profit and comprehensive income — FY2023 source from Annual Report 2025
Metric / unit 2023Group2022Group Source
Consolidated profit and comprehensive income — FY2023 source
RevenueSingapore dollars thousands 170,595162,316 PDF p. 91
Cost of salesSingapore dollars thousands (108,694)(99,507) PDF p. 91
Gross profitSingapore dollars thousands 61,90162,809 PDF p. 91
Other income and gainsSingapore dollars thousands 735658 PDF p. 91
Distribution costsSingapore dollars thousands (35,891)(33,267) PDF p. 91
Administrative expensesSingapore dollars thousands (14,125)(14,561) PDF p. 91
Finance costsSingapore dollars thousands (278)(238) PDF p. 91
Other lossesSingapore dollars thousands (2,322)(1,584) PDF p. 91
Share of profit from an equity-accounted associateSingapore dollars thousands 545474 PDF p. 91
Profit before taxSingapore dollars thousands 10,56514,291 PDF p. 91
Income tax expenseSingapore dollars thousands (1,985)(2,882) PDF p. 91
Profit for the yearSingapore dollars thousands 8,58011,409 PDF p. 91
Items that may be reclassified subsequently to profit or loss
Exchange differences on translating foreign operations, net of taxSingapore dollars thousands (189)96 PDF p. 91
Other comprehensive (loss) income for the year, net of taxSingapore dollars thousands (189)96 PDF p. 91
Total comprehensive income for the yearSingapore dollars thousands 8,39111,505 PDF p. 91
Profit attributable to: Equity holders of the CompanySingapore dollars thousands 8,56811,351 PDF p. 91 Label p. 91
Non-controlling interestsSingapore dollars thousands 1258 PDF p. 91
Profit net of taxSingapore dollars thousands 8,58011,409 PDF p. 91
Total comprehensive income attributable to:
Equity holders of the CompanySingapore dollars thousands 8,38311,447 PDF p. 91
Non-controlling interestsSingapore dollars thousands 858 PDF p. 91
Total comprehensive income for the yearSingapore dollars thousands 8,39111,505 PDF p. 91
Definitions & sources

Basic / diluted EPS — FY2023 source

2 metrics

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Basic / diluted EPS — FY2023 source from Annual Report 2025
Metric / unit 2023Group2022Group Source
Earnings per share currency unit
BasicSingapore cents per share 2.773.68 PDF p. 91
DilutedSingapore cents per share 2.773.66 PDF p. 91
Definitions & sources

Group changes in equity — FY2023 source — ending2023

8 metrics

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Group changes in equity — FY2023 source — ending2023 from Annual Report 2025
Metric / unit 2023Group — Share capital2023Group — Retained earnings2023Group — Other reserves2023Group — Equity attributable to owners2023Group — Non-controlling interests2023Group — Total equity Source
Group
Current year: Opening balance at 1 January 2023Singapore dollars thousands 35,08343,760(9,816)69,0271,24570,272 PDF p. 93 Label p. 93
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands –8,568(185)8,38388,391 PDF p. 93 Label p. 93
Dividends paid (Note 13)Singapore dollars thousands –(14,563)–(14,563)–(14,563) PDF p. 93
Issue of shares pursuant to share awards under HSP (Note 21)Singapore dollars thousands 133––133–133 PDF p. 93 Label p. 93
Share-based payments under HSP (Note 23A)Singapore dollars thousands ––3535–35 PDF p. 93 Label p. 93
Issue of shares to non-controlling interests in subsidiaries (Note 16)Singapore dollars thousands ––(29)(29)319290 PDF p. 93 Label p. 93
Arising from acquisition of a subsidiary (Notes 16 and 26)Singapore dollars thousands ––––1,3041,304 PDF p. 93 Label p. 93
Closing balance at 31 December 2023Singapore dollars thousands 35,21637,765(9,995)62,9862,87665,862 PDF p. 93
Definitions & sources

Group changes in equity — FY2023 source — ending2022

5 metrics

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Group changes in equity — FY2023 source — ending2022 from Annual Report 2025
Metric / unit 2022Group — Share capital2022Group — Retained earnings2022Group — Other reserves2022Group — Equity attributable to owners2022Group — Non-controlling interests2022Group — Total equity Source
Group
Previous year: Opening balance at 1 January 2022Singapore dollars thousands 35,08334,609(14,956)54,736–54,736 PDF p. 93 Label p. 93
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands –11,3519611,4475811,505 PDF p. 93 Label p. 93
Dividends paid (Note 13)Singapore dollars thousands –(2,069)–(2,069)–(2,069) PDF p. 93
Issue of shares to non-controlling interests in subsidiary (Note 16)Singapore dollars thousands –(131)5,0444,9131,1876,100 PDF p. 93 Label p. 93
Closing balance at 31 December 2022Singapore dollars thousands 35,08343,760(9,816)69,0271,24570,272 PDF p. 93
Definitions & sources

Company changes in equity — FY2023 source — ending2023

6 metrics

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Company changes in equity — FY2023 source — ending2023 from Annual Report 2025
Metric / unit 2023Company — Share capital2023Company — Retained earnings2023Company — Other reserves2023Company — Total equity Source
Company
Current year: Opening balance at 1 January 2023Singapore dollars thousands 35,0838,714–43,797 PDF p. 93 Label p. 93
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands –8,686–8,686 PDF p. 93 Label p. 93
Dividends paid (Note 13)Singapore dollars thousands –(14,563)–(14,563) PDF p. 93
Issue of shares pursuant to share awards under HSP (Note 21)Singapore dollars thousands 133––133 PDF p. 93 Label p. 93
Share-based payments under HSP (Note 23A)Singapore dollars thousands ––3535 PDF p. 93
Closing balance at 31 December 2023Singapore dollars thousands 35,2162,8373538,088 PDF p. 93
Definitions & sources

Company changes in equity — FY2023 source — ending2022

4 metrics

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Company changes in equity — FY2023 source — ending2022 from Annual Report 2025
Metric / unit 2022Company — Share capital2022Company — Retained earnings2022Company — Other reserves2022Company — Total equity Source
Company
Previous year: Opening balance at 1 January 2022Singapore dollars thousands 35,0837,192–42,275 PDF p. 93 Label p. 93
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands –3,591–3,591 PDF p. 93 Label p. 93
Dividends paid (Note 13)Singapore dollars thousands –(2,069)–(2,069) PDF p. 93
Closing balance at 31 December 2022Singapore dollars thousands 35,0838,714–43,797 PDF p. 93
Definitions & sources

Consolidated cash flows — FY2023 source

37 metrics

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Consolidated cash flows — FY2023 source from Annual Report 2025
Metric / unit 2023Group2022Group Source
Cash flows from operating activities
Profit before taxSingapore dollars thousands 10,56514,291 PDF p. 94
Adjustments for:
Amortisation of intangible assetsSingapore dollars thousands 702658 PDF p. 94
Depreciation of plant and equipmentSingapore dollars thousands 2,0962,064 PDF p. 94
Interest incomeSingapore dollars thousands (341)(42) PDF p. 94
Interest expenseSingapore dollars thousands 278238 PDF p. 94
(Gain) loss on disposal of plant and equipmentSingapore dollars thousands (5)3 PDF p. 94
Fair value gain arising from remeasurement of interest in associate as a result of business combinationSingapore dollars thousands (165)– PDF p. 94 Label p. 94
Expenses in connection with acquisition of a subsidiarySingapore dollars thousands 65– PDF p. 94
Share of profit from an equity-accounted associateSingapore dollars thousands (545)(474) PDF p. 94
Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands (166)148 PDF p. 94
Operating cash flows before changes in working capitalSingapore dollars thousands 12,48416,886 PDF p. 94
Trade and other receivablesSingapore dollars thousands (9,239)(2,563) PDF p. 94
PrepaymentsSingapore dollars thousands (1,130)(167) PDF p. 94
InventoriesSingapore dollars thousands (3,524)4,030 PDF p. 94
Trade and other payablesSingapore dollars thousands 9,653842 PDF p. 94
Net cash flows from operationsSingapore dollars thousands 8,24419,028 PDF p. 94
Income taxes paidSingapore dollars thousands (2,599)(2,151) PDF p. 94
Net cash flows from operating activitiesSingapore dollars thousands 5,64516,877 PDF p. 94
Cash flows from investing activities
Acquisition of a subsidiary, net of cash acquired (Note 26)Singapore dollars thousands (751)– PDF p. 94
Dividend received from an associateSingapore dollars thousands 12358 PDF p. 94
Consideration adjustment for acquisition of subsidiariesSingapore dollars thousands –179 PDF p. 94
Proceeds from disposal of shares in an associateSingapore dollars thousands –27 PDF p. 94
Purchase of plant and equipment (Notes 14 and 20A)Singapore dollars thousands (304)(558) PDF p. 94
Purchase of intangible assetsSingapore dollars thousands (896)(757) PDF p. 94
Proceeds from disposal of plant and equipmentSingapore dollars thousands 72 PDF p. 94
Interest receivedSingapore dollars thousands 34142 PDF p. 94
Net cash flows used in investing activitiesSingapore dollars thousands (1,480)(1,007) PDF p. 94
Cash flows from financing activities
Dividends paid to equity ownersSingapore dollars thousands (14,563)(2,069) PDF p. 94
Payment of principal portion of lease liabilitiesSingapore dollars thousands (1,185)(1,024) PDF p. 94
Proceeds from borrowingsSingapore dollars thousands –5,000 PDF p. 94
Repayment of borrowingsSingapore dollars thousands (1,250)(6,620) PDF p. 94
Issue of shares to non-controlling interests of a subsidiarySingapore dollars thousands –6,100 PDF p. 94
Interest paidSingapore dollars thousands (278)(238) PDF p. 94
Net cash flows (used in) from financing activitiesSingapore dollars thousands (17,276)1,149 PDF p. 94
Net (decrease) increase in cash and cash equivalentsSingapore dollars thousands (13,111)17,019 PDF p. 94
Cash and cash equivalents, beginning balanceSingapore dollars thousands 36,48019,461 PDF p. 94
Cash and cash equivalents, ending balance (Note 20)Singapore dollars thousands 23,36936,480 PDF p. 94
Definitions & sources

Group / Company financial position — FY2022 source

27 metrics

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Group / Company financial position — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group — restated comparative, Note262022Company2021Company Source
Non-current assets
Plant and equipmentSingapore dollars thousands 3,0174,4083779 PDF p. 70
Intangible assetsSingapore dollars thousands 19,07218,300–– PDF p. 70
Investment in subsidiariesSingapore dollars thousands ––19,88619,420 PDF p. 70
Investment in an associateSingapore dollars thousands 2,6672,306–– PDF p. 70
Deferred tax assetsSingapore dollars thousands 6165–– PDF p. 70
Total non-current assetsSingapore dollars thousands 24,81725,07919,92319,499 PDF p. 70
Current assets
InventoriesSingapore dollars thousands 21,26025,290–– PDF p. 70
Trade and other receivablesSingapore dollars thousands 31,10628,72220,67820,688 PDF p. 70
PrepaymentsSingapore dollars thousands 80663917480 PDF p. 70
Cash and cash equivalentsSingapore dollars thousands 36,48019,4614,6563,221 PDF p. 70
Total current assetsSingapore dollars thousands 89,65274,11225,50823,989 PDF p. 70
Total assetsSingapore dollars thousands 114,46999,19145,43143,488 PDF p. 70
Equity
Share capitalSingapore dollars thousands 35,08335,08335,08335,083 PDF p. 70
Retained earningsSingapore dollars thousands 43,76034,6098,7147,192 PDF p. 70
Other reservesSingapore dollars thousands (9,816)(14,956)–– PDF p. 70
Equity attributable to equity holders of the
CompanySingapore dollars thousands 69,02754,73643,79742,275 PDF p. 70
Non-controlling interestsSingapore dollars thousands 1,245––– PDF p. 70
Total equitySingapore dollars thousands 70,27254,73643,79742,275 PDF p. 70
Non-current liabilities
Deferred tax liabilitiesSingapore dollars thousands 7931,018–– PDF p. 70
Other fi nancial liabilities, non-currentSingapore dollars thousands 3,330880–– PDF p. 70
Total non-current liabilitiesSingapore dollars thousands 4,1231,898–– PDF p. 70
Current liabilities
Income tax payableSingapore dollars thousands 2,6571,705143 PDF p. 70
Trade and other payablesSingapore dollars thousands 35,07733,5631,6201,210 PDF p. 70
Other fi nancial liabilities, currentSingapore dollars thousands 2,3407,289–– PDF p. 70
Total current liabilitiesSingapore dollars thousands 40,07442,5571,6341,213 PDF p. 70
Total liabilitiesSingapore dollars thousands 44,19744,4551,6341,213 PDF p. 70
Total equity and liabilitiesSingapore dollars thousands 114,46999,19145,43143,488 PDF p. 70
Definitions & sources

Consolidated profit and comprehensive income — FY2022 source

21 metrics

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Consolidated profit and comprehensive income — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group Source
Consolidated profit and comprehensive income — FY2022 source
RevenueSingapore dollars thousands 162,316125,883 PDF p. 69
Cost of salesSingapore dollars thousands (99,507)(77,800) PDF p. 69
Gross profi tSingapore dollars thousands 62,80948,083 PDF p. 69
Other income and gainsSingapore dollars thousands 658964 PDF p. 69
Distribution costsSingapore dollars thousands (33,267)(28,394) PDF p. 69
Administrative expensesSingapore dollars thousands (14,561)(11,639) PDF p. 69
Finance costsSingapore dollars thousands (238)(95) PDF p. 69
Other lossesSingapore dollars thousands (1,584)(680) PDF p. 69
Share of profi t from an equity-accounted associateSingapore dollars thousands 47417 PDF p. 69
Profi t before taxSingapore dollars thousands 14,2918,256 PDF p. 69
Income tax expenseSingapore dollars thousands (2,882)(1,410) PDF p. 69
Profi t for the yearSingapore dollars thousands 11,4096,846 PDF p. 69
Items that may be reclassifi ed subsequently to profi t or loss:
Exchange diff erences on translating foreign operations, net of taxSingapore dollars thousands 9633 PDF p. 69
Other comprehensive income for the year, net of taxSingapore dollars thousands 9633 PDF p. 69
Total comprehensive income for the yearSingapore dollars thousands 11,5056,879 PDF p. 69
Profi t attributable to: Equity holders of the CompanySingapore dollars thousands 11,3516,846 PDF p. 69 Label p. 69
Non-controlling interestsSingapore dollars thousands 58– PDF p. 69
Profi t net of taxSingapore dollars thousands 11,4096,846 PDF p. 69
Total comprehensive income attributable to:
Equity holders of the CompanySingapore dollars thousands 11,4476,879 PDF p. 69
Non-controlling interestsSingapore dollars thousands 58– PDF p. 69
Total comprehensive income for the yearSingapore dollars thousands 11,5056,879 PDF p. 69
Definitions & sources

Basic / diluted EPS — FY2022 source

2 metrics

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Basic / diluted EPS — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group Source
Earnings per share currency unit
BasicSingapore cents per share 3.682.27 PDF p. 69
DilutedSingapore cents per share 3.662.27 PDF p. 69
Definitions & sources

Group changes in equity — FY2022 source — ending2022

5 metrics

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Group changes in equity — FY2022 source — ending2022 from Annual Report 2025
Metric / unit 2022Group — Total equity2022Group — Non-controlling interests2022Group — Equity attributable to owners2022Group — Share capital2022Group — Retained earnings2022Group — Other reserves Source
Group
Current year: Opening balance at 1 January 2022Singapore dollars thousands 54,736–54,73635,08334,609(14,956) PDF p. 71 Label p. 71
Changes in equity: Issue of share capital to non-controlling interests in subsidiary (Note 16)Singapore dollars thousands 6,1001,1874,913–(131)5,044 PDF p. 71 Label p. 71
Total comprehensive income for the yearSingapore dollars thousands 11,5055811,447–11,35196 PDF p. 71
Dividends paid (Note 13)Singapore dollars thousands (2,069)–(2,069)–(2,069)– PDF p. 71
Closing balance at 31 December 2022Singapore dollars thousands 70,2721,24569,02735,08343,760(9,816) PDF p. 71
Definitions & sources

Group changes in equity — FY2022 source — ending2021 — restated

7 metrics

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Group changes in equity — FY2022 source — ending2021 — restated from Annual Report 2025
Metric / unit 2021Group — restated — Total equity2021Group — restated — Non-controlling interests2021Group — restated — Equity attributable to owners2021Group — restated — Share capital2021Group — restated — Retained earnings2021Group — restated — Other reserves Source
Group
Previous year (restated): Opening balance at 1 January 2021Singapore dollars thousands 47,175–47,17532,64129,626(15,092) PDF p. 71 Label p. 71
Changes in equity: Issuance of new shares pursuant to acquisition of subsidiaries (as previously reported) (Notes 21 and 26)Singapore dollars thousands 2,442–2,4422,442–– PDF p. 71 Label p. 71
Prior year adjustments (Note 26)Singapore dollars thousands 103–103––103 PDF p. 71
Issuance of new shares pursuant to acquisition of subsidiaries (restated)Singapore dollars thousands 2,545–2,5452,442–103 PDF p. 71 Label p. 71
Total comprehensive income for the yearSingapore dollars thousands 6,879–6,879–6,84633 PDF p. 71
Dividends paid (Note 13)Singapore dollars thousands (1,863)–(1,863)–(1,863)– PDF p. 71
Closing balance at 31 December 2021 (restated)Singapore dollars thousands 54,736–54,73635,08334,609(14,956) PDF p. 71 Label p. 71
Definitions & sources

Company changes in equity — FY2022 source — ending2022

4 metrics

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Company changes in equity — FY2022 source — ending2022 from Annual Report 2025
Metric / unit 2022Company — Total equity2022Company — Share capital2022Company — Retained earnings Source
Company
Current year: Opening balance at 1 January 2022Singapore dollars thousands 42,27535,0837,192 PDF p. 71 Label p. 71
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands 3,591–3,591 PDF p. 71 Label p. 71
Dividends paid (Note 13)Singapore dollars thousands (2,069)–(2,069) PDF p. 71
Closing balance at 31 December 2022Singapore dollars thousands 43,79735,0838,714 PDF p. 71
Definitions & sources

Company changes in equity — FY2022 source — ending2021

5 metrics

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Company changes in equity — FY2022 source — ending2021 from Annual Report 2025
Metric / unit 2021Company — Total equity2021Company — Share capital2021Company — Retained earnings Source
Company
Previous year: Opening balance at 1 January 2021Singapore dollars thousands 37,71332,6415,072 PDF p. 71 Label p. 71
Changes in equity: Issuance of new shares pursuant to acquisition of subsidiaries (Notes 21 and 26)Singapore dollars thousands 2,4422,442– PDF p. 71 Label p. 71
Total comprehensive income for the yearSingapore dollars thousands 3,983–3,983 PDF p. 71
Dividends paid (Note 13)Singapore dollars thousands (1,863)–(1,863) PDF p. 71
Closing balance at 31 December 2021Singapore dollars thousands 42,27535,0837,192 PDF p. 71
Definitions & sources

Consolidated cash flows — FY2022 source

38 metrics

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Consolidated cash flows — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group Source
Cash fl ows from operating activities
Profi t before taxSingapore dollars thousands 14,2918,256 PDF p. 72
Adjustments for:
Amortisation of intangible assetsSingapore dollars thousands 658427 PDF p. 72
Depreciation of plant and equipmentSingapore dollars thousands 2,0641,777 PDF p. 72
Interest incomeSingapore dollars thousands (42)(74) PDF p. 72
Interest expenseSingapore dollars thousands 23895 PDF p. 72
Loss on disposal of plant and equipmentSingapore dollars thousands 32 PDF p. 72
Loss on disposal of subsidiarySingapore dollars thousands –2 PDF p. 72
Expenses in connection with acquisition of subsidiariesSingapore dollars thousands –415 PDF p. 72
Share of profi t of an equity-accounted associateSingapore dollars thousands (474)(17) PDF p. 72
Net eff ect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands 14834 PDF p. 72
Operating cash fl ows before changes in working capitalSingapore dollars thousands 16,88610,917 PDF p. 72
Trade and other receivablesSingapore dollars thousands (2,563)(1,988) PDF p. 72
PrepaymentsSingapore dollars thousands (167)20 PDF p. 72
InventoriesSingapore dollars thousands 4,030(4,608) PDF p. 72
Trade and other payablesSingapore dollars thousands 8423,112 PDF p. 72
Net cash fl ows from operationsSingapore dollars thousands 19,0287,453 PDF p. 72
Income taxes paidSingapore dollars thousands (2,151)(1,415) PDF p. 72
Net cash fl ows from operating activitiesSingapore dollars thousands 16,8776,038 PDF p. 72
Cash fl ows from investing activities
Acquisition of subsidiaries, net of cash acquired (Note 26)Singapore dollars thousands –(14,156) PDF p. 72
Dividend received from an associateSingapore dollars thousands 58– PDF p. 72
Consideration adjustment for acquisition of subsidiariesSingapore dollars thousands 179– PDF p. 72
Proceeds from disposal of shares in an associateSingapore dollars thousands 27– PDF p. 72
Down-payment for plant and equipmentSingapore dollars thousands –(139) PDF p. 72
Purchase of plant and equipment (Notes 14 and 20A)Singapore dollars thousands (558)(562) PDF p. 72
Purchase of intangible assetsSingapore dollars thousands (757)(134) PDF p. 72
Proceed from sale of plant and equipmentSingapore dollars thousands 2– PDF p. 72
Interest receivedSingapore dollars thousands 4274 PDF p. 72
Net cash fl ows used in investing activitiesSingapore dollars thousands (1,007)(14,917) PDF p. 72
Cash fl ows from fi nancing activities
Dividends paid to equity ownersSingapore dollars thousands (2,069)(1,863) PDF p. 72
Payment of principal portion of lease liabilitiesSingapore dollars thousands (1,024)(905) PDF p. 72
Interest paidSingapore dollars thousands (238)(95) PDF p. 72
Proceeds from borrowingsSingapore dollars thousands 5,0004,243 PDF p. 72
Repayment of borrowingsSingapore dollars thousands (6,620)(566) PDF p. 72
Issue of shares to non-controlling interests of a subsidiarySingapore dollars thousands 6,100– PDF p. 72
Net cash fl ows from fi nancing activitiesSingapore dollars thousands 1,149814 PDF p. 72
Net increase (decrease) in cash and cash equivalentsSingapore dollars thousands 17,019(8,065) PDF p. 72
Cash and cash equivalents, statement of cash fl ows, beginning balanceSingapore dollars thousands 19,46127,526 PDF p. 72
Cash and cash equivalents, statement of cash fl ows, ending balance (Note 20)Singapore dollars thousands 36,48019,461 PDF p. 72
Definitions & sources

Revenue / profit chart — original FY2022 highlights

2 metrics

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Revenue / profit chart — original FY2022 highlights from Annual Report 2025
Metric / unit 2022Group — original highlights2021Group — original highlights2020Group — original highlights2019Group — original highlights2018Group — original highlights Source
Original financial highlights
REVENUESingapore dollars millions 162.3125.9121.0116.3115.9 PDF p. 16
PROFIT, NET OF TAXSingapore dollars millions 11.46.86.26.55.4 PDF p. 16
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

* Restated for prior years: revenue FY2020 121.0*, FY2019 116.3*, FY2018 115.9*; Specialty Pharma Principals FY2020 62.0*, FY2019 62.0*, FY2018 64.4*; Vietnam FY2020 43.9*, FY2019 43.6*, FY2018 47.7*. Original markers are retained in cell evidence and this note.

^ FY2021 and FY2020 profit net of tax include JSS & COVID-related provision. # FY2018 profit 5.4# includes IPO expense of S$0.9 million.

Revenue by business segment — original FY2022 highlights

3 metrics

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Revenue by business segment — original FY2022 highlights from Annual Report 2025
Metric / unit 2022Group — original highlights2021Group — original highlights2020Group — original highlights2019Group — original highlights2018Group — original highlights Source
Original financial highlights
Specialty Pharma PrincipalsSingapore dollars millions 95.765.662.062.064.4 PDF p. 16
Proprietary BrandsSingapore dollars millions 23.419.118.114.513.2 PDF p. 16
Medical Hypermart & DigitalSingapore dollars millions 43.241.240.939.838.3 PDF p. 16
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

* Restated for prior years: revenue FY2020 121.0*, FY2019 116.3*, FY2018 115.9*; Specialty Pharma Principals FY2020 62.0*, FY2019 62.0*, FY2018 64.4*; Vietnam FY2020 43.9*, FY2019 43.6*, FY2018 47.7*. Original markers are retained in cell evidence and this note.

^ FY2021 and FY2020 profit net of tax include JSS & COVID-related provision. # FY2018 profit 5.4# includes IPO expense of S$0.9 million.

Revenue by geography — original FY2022 highlights

4 metrics

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Revenue by geography — original FY2022 highlights from Annual Report 2025
Metric / unit 2022Group — original highlights2021Group — original highlights2020Group — original highlights2019Group — original highlights2018Group — original highlights Source
Original financial highlights
SingaporeSingapore dollars millions 84.564.160.857.553.9 PDF p. 16
VietnamSingapore dollars millions 54.641.643.943.647.7 PDF p. 16
MalaysiaSingapore dollars millions 15.110.67.98.07.7 PDF p. 16
OthersSingapore dollars millions 8.19.68.47.26.6 PDF p. 16
Definitions & sources

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

* Restated for prior years: revenue FY2020 121.0*, FY2019 116.3*, FY2018 115.9*; Specialty Pharma Principals FY2020 62.0*, FY2019 62.0*, FY2018 64.4*; Vietnam FY2020 43.9*, FY2019 43.6*, FY2018 47.7*. Original markers are retained in cell evidence and this note.

^ FY2021 and FY2020 profit net of tax include JSS & COVID-related provision. # FY2018 profit 5.4# includes IPO expense of S$0.9 million.

Novem purchase consideration — original / restated FY2021 — Note26

3 metrics

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Novem purchase consideration — original / restated FY2021 — Note26 from Annual Report 2025
Metric / unit 2021Group — restated2021Group — previously reported Source
Novem purchase consideration — original / restated FY2021 — Note26
Consideration transferred in cash (1)Singapore dollars thousands 14,55914,738 PDF p. 111
Shares issued, at fair valueSingapore dollars thousands 2,5452,442 PDF p. 111
Total consideration transferredSingapore dollars thousands 17,10417,180 PDF p. 111
Definitions & sources

Completion accounts reduce cash consideration by179thousand. Share fair value is retrospectively adjusted to the transaction date, increasing Group capital reserves by103thousand. The original and restated Group assets/equity are retained side by side with explicit labels.

Group / Company financial position — FY2021 source

25 metrics

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Group / Company financial position — FY2021 source from Annual Report 2025
Metric / unit 2021Group2020Group2021Company2020Company Source
Non-current assets
Plant and equipmentSingapore dollars thousands 4,1714,80779124 PDF p. 53
Intangible assetsSingapore dollars thousands 20,1507,890–– PDF p. 53
Investment in subsidiariesSingapore dollars thousands ––19,42019,220 PDF p. 53
Investment in an associateSingapore dollars thousands 307––– PDF p. 53
Deferred tax assetsSingapore dollars thousands 6547–– PDF p. 53
Total non-current assetsSingapore dollars thousands 24,69312,74419,49919,344 PDF p. 53
Current assets
InventoriesSingapore dollars thousands 25,07616,888–– PDF p. 53
Trade and other receivablesSingapore dollars thousands 28,54323,73620,6885,569 PDF p. 53
PrepaymentsSingapore dollars thousands 6395648064 PDF p. 53
Cash and cash equivalentsSingapore dollars thousands 19,46127,5263,22113,449 PDF p. 53
Total current assetsSingapore dollars thousands 73,71968,71423,98919,082 PDF p. 53
Total assetsSingapore dollars thousands 98,41281,45843,48838,426 PDF p. 53
Equity
Share capitalSingapore dollars thousands 35,08332,64135,08332,641 PDF p. 53
Retained earningsSingapore dollars thousands 34,60929,6267,1925,072 PDF p. 53
Other reservesSingapore dollars thousands (15,059)(15,092)–– PDF p. 53
Total equitySingapore dollars thousands 54,63347,17542,27537,713 PDF p. 53
Non-current liabilities
Deferred tax liabilitiesSingapore dollars thousands 342409–– PDF p. 53
Other fi nancial liabilities, non-currentSingapore dollars thousands 8803,558–– PDF p. 53
Total non-current liabilitiesSingapore dollars thousands 1,2223,967–– PDF p. 53
Current liabilities
Income tax payableSingapore dollars thousands 1,7051,34533 PDF p. 53
Trade and other payablesSingapore dollars thousands 33,56327,5551,210710 PDF p. 53
Other fi nancial liabilities, currentSingapore dollars thousands 7,2891,416–– PDF p. 53
Total current liabilitiesSingapore dollars thousands 42,55730,3161,213713 PDF p. 53
Total liabilitiesSingapore dollars thousands 43,77934,2831,213713 PDF p. 53
Total equity and liabilitiesSingapore dollars thousands 98,41281,45843,48838,426 PDF p. 53
Definitions & sources

Consolidated profit and comprehensive income — FY2021 source

15 metrics

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Consolidated profit and comprehensive income — FY2021 source from Annual Report 2025
Metric / unit 2021Group2020Group Source
Consolidated profit and comprehensive income — FY2021 source
RevenueSingapore dollars thousands 125,883120,977 PDF p. 52
Cost of salesSingapore dollars thousands (77,800)(77,341) PDF p. 52
Gross profi tSingapore dollars thousands 48,08343,636 PDF p. 52
Other income and gainsSingapore dollars thousands 9642,295 PDF p. 52
Distribution costsSingapore dollars thousands (28,394)(26,523) PDF p. 52
Administrative expensesSingapore dollars thousands (11,639)(10,138) PDF p. 52
Finance costsSingapore dollars thousands (95)(110) PDF p. 52
Other lossesSingapore dollars thousands (680)(2,052) PDF p. 52
Share of profi t of an equity-accounted associateSingapore dollars thousands 17– PDF p. 52
Profi t before taxSingapore dollars thousands 8,2567,108 PDF p. 52
Income tax expenseSingapore dollars thousands (1,410)(945) PDF p. 52
Profi t for the yearSingapore dollars thousands 6,8466,163 PDF p. 52
Items that may be reclassifi ed subsequently to profi t or loss:
Exchange diff erences on translating foreign operations, net of taxSingapore dollars thousands 33(60) PDF p. 52
Other comprehensive income (loss) for the year, net of taxSingapore dollars thousands 33(60) PDF p. 52
Total comprehensive incomeSingapore dollars thousands 6,8796,103 PDF p. 52
Definitions & sources

Basic / diluted EPS — FY2021 source

2 metrics

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Basic / diluted EPS — FY2021 source from Annual Report 2025
Metric / unit 2021Group2020Group Source
Earnings per share currency unit
BasicSingapore cents per share 2.272.05 PDF p. 52
DilutedSingapore cents per share 2.272.05 PDF p. 52
Definitions & sources

Group changes in equity — FY2021 source — ending2021

5 metrics

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Group changes in equity — FY2021 source — ending2021 from Annual Report 2025
Metric / unit 2021Group — Total equity2021Group — Share capital2021Group — Retained earnings2021Group — Other reserves Source
Group
Current year: Opening balance at 1 January 2021Singapore dollars thousands 47,17532,64129,626(15,092) PDF p. 54 Label p. 54
Changes in equity: Issuance of new shares pursuant to acquisition of subsidiaries (Notes 21 and 26)Singapore dollars thousands 2,4422,442–– PDF p. 54 Label p. 54
Total comprehensive income for the yearSingapore dollars thousands 6,879–6,84633 PDF p. 54
Dividends paid (Note 13)Singapore dollars thousands (1,863)–(1,863)– PDF p. 54
Closing balance at 31 December 2021Singapore dollars thousands 54,63335,08334,609(15,059) PDF p. 54
Definitions & sources

Group changes in equity — FY2021 source — ending2020

4 metrics

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Group changes in equity — FY2021 source — ending2020 from Annual Report 2025
Metric / unit 2020Group — Total equity2020Group — Share capital2020Group — Retained earnings2020Group — Other reserves Source
Group
Previous year: Opening balance at 1 January 2020Singapore dollars thousands 44,07632,64126,467(15,032) PDF p. 54 Label p. 54
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands 6,103–6,163(60) PDF p. 54 Label p. 54
Dividends paid (Note 13)Singapore dollars thousands (3,004)–(3,004)– PDF p. 54
Closing balance at 31 December 2020Singapore dollars thousands 47,17532,64129,626(15,092) PDF p. 54
Definitions & sources

Company changes in equity — FY2021 source — ending2021

5 metrics

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Company changes in equity — FY2021 source — ending2021 from Annual Report 2025
Metric / unit 2021Company — Total equity2021Company — Share capital2021Company — Retained earnings Source
Company
Current year: Opening balance at 1 January 2021Singapore dollars thousands 37,71332,6415,072 PDF p. 54 Label p. 54
Changes in equity: Issuance of new shares pursuant to acquisition of subsidiaries (Notes 21 and 26)Singapore dollars thousands 2,4422,442– PDF p. 54 Label p. 54
Total comprehensive income for the yearSingapore dollars thousands 3,983–3,983 PDF p. 54
Dividends paid (Note 13)Singapore dollars thousands (1,863)–(1,863) PDF p. 54
Closing balance at 31 December 2021Singapore dollars thousands 42,27535,0837,192 PDF p. 54
Definitions & sources

Company changes in equity — FY2021 source — ending2020

4 metrics

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Company changes in equity — FY2021 source — ending2020 from Annual Report 2025
Metric / unit 2020Company — Total equity2020Company — Share capital2020Company — Retained earnings Source
Company
Previous year: Opening balance at 1 January 2020Singapore dollars thousands 37,55332,6414,912 PDF p. 54 Label p. 54
Changes in equity: Total comprehensive income for the yearSingapore dollars thousands 3,164–3,164 PDF p. 54 Label p. 54
Dividends paid (Note 13)Singapore dollars thousands (3,004)–(3,004) PDF p. 54
Closing balance at 31 December 2020Singapore dollars thousands 37,71332,6415,072 PDF p. 54
Definitions & sources

Consolidated cash flows — FY2021 source

34 metrics

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Consolidated cash flows — FY2021 source from Annual Report 2025
Metric / unit 2021Group2020Group Source
Cash fl ows from operating activities
Profi t before taxSingapore dollars thousands 8,2567,108 PDF p. 55
Adjustments for:
Amortisation of intangible assetsSingapore dollars thousands 427401 PDF p. 55
Depreciation of plant and equipmentSingapore dollars thousands 1,7771,680 PDF p. 55
Interest incomeSingapore dollars thousands (74)(180) PDF p. 55
Interest expenseSingapore dollars thousands 95110 PDF p. 55
Loss (gain) on disposal of plant and equipmentSingapore dollars thousands 2(4) PDF p. 55
Loss on disposal of subsidiarySingapore dollars thousands 2– PDF p. 55
Expenses in connection with acquisition of subsidiariesSingapore dollars thousands 415– PDF p. 55
Share of profi t of an equity-accounted associateSingapore dollars thousands (17)– PDF p. 55
Net eff ect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands 34(114) PDF p. 55
Operating cash fl ows before changes in working capitalSingapore dollars thousands 10,9179,001 PDF p. 55
Trade and other receivablesSingapore dollars thousands (1,988)(767) PDF p. 55
PrepaymentsSingapore dollars thousands 20(198) PDF p. 55
InventoriesSingapore dollars thousands (4,608)(5,457) PDF p. 55
Trade and other payablesSingapore dollars thousands 3,1122,612 PDF p. 55
Net cash fl ows from operationsSingapore dollars thousands 7,4535,191 PDF p. 55
Income taxes paidSingapore dollars thousands (1,415)(1,061) PDF p. 55
Net cash fl ows from operating activitiesSingapore dollars thousands 6,0384,130 PDF p. 55
Cash fl ows from investing activities
Acquisition of subsidiaries, net of cash acquired (Note 26)Singapore dollars thousands (14,156)– PDF p. 55
Down-payment for plant and equipmentSingapore dollars thousands (139)– PDF p. 55
Purchase of plant and equipment (Notes 14 and 20A)Singapore dollars thousands (562)(371) PDF p. 55
Purchase of intangible assetsSingapore dollars thousands (134)(829) PDF p. 55
Proceed from sale of plant and equipmentSingapore dollars thousands –7 PDF p. 55
Interest receivedSingapore dollars thousands 74180 PDF p. 55
Net cash fl ows used in investing activitiesSingapore dollars thousands (14,917)(1,013) PDF p. 55
Cash fl ows from fi nancing activities
Dividends paid to equity ownersSingapore dollars thousands (1,863)(3,004) PDF p. 55
Payment of principal portion of lease liabilitiesSingapore dollars thousands (905)(783) PDF p. 55
Interest paidSingapore dollars thousands (95)(110) PDF p. 55
Proceeds from borrowingsSingapore dollars thousands 4,2432,441 PDF p. 55
Repayment of borrowingsSingapore dollars thousands (566)(300) PDF p. 55
Net cash fl ows from (used in) fi nancing activitiesSingapore dollars thousands 814(1,756) PDF p. 55
Net (decrease) increase in cash and cash equivalentsSingapore dollars thousands (8,065)1,361 PDF p. 55
Cash and cash equivalents, statement of cash fl ows, beginning balanceSingapore dollars thousands 27,52626,165 PDF p. 55
Cash and cash equivalents, statement of cash fl ows, ending balance (Note 20)Singapore dollars thousands 19,46127,526 PDF p. 55
Definitions & sources

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Financial years end on 31 December. Monetary amounts are Singapore dollar thousands and EPS is Singapore cents per share. Consolidated profit, comprehensive income and cash flows, plus Group / Company financial position and changes in equity, are printed. Separate Company primary income, comprehensive income and cash flow statements are not printed.

Original chart amounts are in Singapore dollar millions. Category names retain each report’s own segment definitions.

The current report’s highlights span FY2023–FY2025; the FY2022 report separately provides a five-year FY2018–FY2022 summary. Full primary comparison statements cover FY2020–FY2025, with the original FY2021 and subsequent restatement both retained.

Share buy-back appendix financial impacts are hypothetical scenarios and are excluded from actual historical financial tables. Bank capital and REIT distribution ratios are not applicable to this pharmaceutical business.

* Restated for prior years: revenue FY2020 121.0*, FY2019 116.3*, FY2018 115.9*; Specialty Pharma Principals FY2020 62.0*, FY2019 62.0*, FY2018 64.4*; Vietnam FY2020 43.9*, FY2019 43.6*, FY2018 47.7*. Original markers are retained in cell evidence and this note.

^ FY2021 and FY2020 profit net of tax include JSS & COVID-related provision. # FY2018 profit 5.4# includes IPO expense of S$0.9 million.

FY2021 Group financial position and equity were explicitly restated in FY2022 after finalising Novem purchase price allocation. Original FY2021 Group total assets98,412and equity54,633 differ from restated99,191and54,736. No correction to the original report is inferred.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.