Hyphens Pharma International reported that net profit for the six months ended Jun 30, 2026 surged 132.5% year-on-year to S$4.6 million, lifted mainly by a deliberate shift toward higher-margin products across its businesses.
Basic earnings per share rose to 1.41 Singapore cents from 0.54 cents a year earlier. The company did not declare an interim dividend.
Revenue was broadly stable at S$89.1 million, down 0.5% YoY, as a 17.9% rise in Proprietary Brands sales offset softer contributions from the Pharmaceutical and Medical Aesthetics segment (-5.4%) and Digital Platform and E-Pharmacy (-4.1%). Gross profit increased 6.6% to S$37.7 million and the margin widened to 42.3% from 39.4%, reflecting the improved sales mix.
Within Proprietary Brands, stronger demand for Ceradan dermatological products and Ocean Health supplements, along with initial sales of Visiopro and Winlevi, underpinned growth. The Pharmaceutical and Medical Aesthetics segment recorded lower revenue after the planned transition of Vivomixx to Visiopro and the discontinuation of lower-margin lines, though management said the remaining portfolio generated higher EBITDA and margins.
Operating costs rose as the group stepped up advertising, promotion and capability building. Distribution expenses increased 10.1% to S$21.8 million, while administrative costs edged up 2.7% to S$8.1 million. Foreign-exchange and inventory-related losses narrowed sharply, cutting other losses to S$1.4 million from S$4.7 million a year earlier.
Hyphens generated S$9.2 million of operating cash flow in the half year, up markedly YoY, and ended the period with S$23.3 million in cash after funding the S$5.2 million acquisition of Ardence Aesthetics.
Management said the portfolio optimisation that began in 2025 is expected to keep supporting margins, although freight, packaging and currency volatility remain watch points. The company plans to introduce Winlevi to additional markets once regulatory approvals are secured and will continue evaluating out-licensing and selective geographic expansion for its proprietary products. It also aims to drive efficiency gains in its Pan-Malayan pharmaceuticals distribution arm and scale up its WellAway e-pharmacy platform.
Executive chairman and chief executive Lim See Wah noted that the first-half performance benefited from focusing on higher-margin products and recent investments in management capability. He added that, despite geopolitical and cost headwinds, the group remains “cautiously optimistic” and will prioritise sustainable growth, margin improvement, cash generation and risk management over the next 12 months.