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Source: "The contraction was the result of lower gross profit margin," Pharmaniaga Bhd's managing director Mohamad Abdullah said in a statement today. He said the group's revenue was considered stable as it only dropped slightly to RM976.890 million from RM977.403 million previously. For the third quarter, the group registered a pre-tax profit of RM9.427 million, down from RM17.641 million in the same quarter last year. Its revenue, however, improved by five per cent to RM329.962 million from RM314.288 million previously. "This was mainly due to improvement in concession sales and sales by the Indonesian subsidiary, which advanced by 9.3 per cent and 15.1 per cent respectively," Mohamad said. On the outlook, he said the group expects a slight shortfall in its projected revenue growth and return-on-equity for the full year. "The existing economic environment remained challenging," he added. BERNAMA 
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