Than Hoon – Mega switches to high gear, setting targets for increasing revenue and profits. CEO Mr. Vivek Dhawan hints at attacking foreign markets full force, particularly markets in Africa which are seeing a high number of orders, supporting the target of 15,000 million before 2019 which he says should not be difficult. At the same time numerous new products have been released and investments of 1-2 million USD have been made in order to boost the quality of products in order to grow profits.
Mr. Vivek Dhawan, CEO of Mega Lifesciences revealed that the compay intends to double revenues and profits in comparison with last year as well as having revenues increase to 15,000 million within 2019 which will depend on expansion to foreign markets both in ASEAN and in Africa, with the estimation that revenues from Africa will be 20% of total revenues by 2019 as compared to 10% now. As for 2015 targets have been set at 10% growth from last year in which revenues stood at 7700 million and profits at 547 million, with the pharmaceutical market seeing a tendency towards continuous growth since the end of last year while the company is set to release 20 new products with a budget of 1-2 million USD per year for R&D into new products and improving existing products in order to achieve larger profits. ”, As such results from Q1/2015 have been on the rising trend when compared to the same period last year, as well as a tendency in foreign markets towards continued growth following periods of unrest in Ukraine and Austria.
At the moment the company draws 75-80% of revenues from foreign markets,
whereas the rest comes domestically from the Mega We Care brand.
Currently the company is producing at 50-60% capacity of a full capacity
of 3400 million capsules per year.All
in all Mega sees the domestic market returning to a state in which
pharmaceutical products are once more in demand, at the same time as
seeing neighboring markets expand and thus it is a good time for Mega to
press forward in these markets.
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