Imexpharm clinches top honours in corporate annual reporting

As the year edges towards its close, Imexpharm, a prominent player in the pharmaceutical sector, has demonstrated commendable resilience and growth amid ongoing economic challenges post-pandemic.

In the first eleven months of 2023, the company's financial performance not only surpassed its targeted benchmarks but also marked a significant on-year increase.

Imexpharm's total revenue for November soared to approximately VND230.3 billion ($9.72 million), marking an 11.9 per cent increase compared to the previous year.

The cumulative net revenue from January to November reached roughly $75.48 million, coupled with a pre-tax profit of about $15.21 million. These figures represent a growth of 23.2 per cent and 36.2 per cent in revenue and profit, respectively, over the same period in 2022.

This financial upswing has enabled Imexpharm to exceed its revenue and profit targets for 2023, achieving 102.2 per cent of its planned revenue and 103 per cent of its profit goal.

These results, endorsed by the 2023 AGM, underscore the company's sustainable and efficient growth trajectory.

General director of Imexpharm, Tran Thi Dao said, "Listed since 2006, Imexpharm aspires to be a sustainable, professional, and transparent entity, particularly in governance. This year's performance validates our efforts and fortifies the trust placed in us by customers, shareholders, and investors."

Emphasising the company's commitment to quality and affordability, Dao added, "Our focus remains steadfast on delivering high-quality products at reasonable prices. Recognition from hospitals, doctors, and patients attest to our quality, backed by our adherence to international standards in manufacturing, including EU-GMP."

Looking forward, Imexpharm plans to harness the Balanced Scorecard tool for strategic goal management across various divisions. This approach will complement the company's efforts in fulfilling the 2023 plan and in optimising production to meet year-end market demands. Additionally, the company is set to refine its inventory control and financial planning to sustain operations into the next year.

In a resounding endorsement of its strategies in December 2023, Imexpharm was lauded for having one of the top 20 best annual reports in the non-financial sector and for ranking among the top 10 in company management within the mid-cap group.

This honour, presented at the Annual Vietnam Listed Company Awards 2023 event, co-organised by the Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange, Dragon Capital, and VIR, recognises companies exemplifying superior corporate governance and management practices.

The announcement made on December 15 in the central province of Khanh Hoa, accentuates Imexpharm's commitment to professional, transparent reporting, and sustainable corporate governance. This initiative, aimed at elevating listed companies' reporting standards, also bolsters investor access to critical corporate information.

At this year's prestigious evaluation of annual reports, a total of 116 were evaluated, with 24 originating from the financial sector and a significant 92 from the non-financial sector.

The Organising Committee's assessment shows that the Annual Reports and Corporate Governance awarded can also be seen as a typical model that businesses on the market can refer to.

In addition, this is also the basis for policymakers and state management agencies to improve general and detailed standards to effectively manage and operate businesses, sectors, and industries, building national competitiveness.

"This is a proud result that recognises Imexpharm's efforts to become a listed company with professional, transparent operations that always comply with and meet international standards and practices in financial reporting, auditing, and corporate governance," said an Imexpharm spokesperson.

SK Investment Vina III to hold 65 per cent of Imexpharm SK Investment Vina III Pte. Ltd (SK Vina III), a subsidiary of South Korea’s third-largest conglomerate SK Group, aims to hold a 65 per cent stake in Imexpharm Pharmaceutical JSC (IMP).