Issued : Monday 16th November 2020, Dubai UAE.
Dubai, Nov 22, 2020 (Issuewire.com) - Beaufond delivered a strong Q1 revenue performance despite the current Covid-19 pandemic, with revenue crossing US $ 346 MN as on 30th September 2020, an increase by 27% as compare to Q1 of 2019-20. With GP increased by 26% and NP increased by 41%. The Q1 result of Beaufond had set its sight in right direction to achieve its yearly growth.
C.E.O & Managing Director Quote : "As we enter the 2nd stretch of current financial, witnessing a historically challenging year for the world, I could not be more proud of the extraordinary effort, dedication and resolve shown by Beaufond's colleagues to address the COVID-19 pandemic with unprecedented speed, while never compromising on their commitment to the customer-centered, science-driven standards that guide everything we do. I am more confident than ever in Beaufond's future as we transition to a smaller, more agile, science-based pharmaceutical company with what we believe is an industry-leading innovative pipeline. I am pleased with our Q1 performance for this new financial year, including our ability to maintain a steady supply of products to the customer, during these uniquely challenging times. In the first three months of the year, our Chemicals segment business grew by 31%, despite a COVID-19-related impact, driven by the strong performance of many of our key products. This performance adds to our confidence in our - 1 - ability to achieve our expectation of at least a 10% compound annual revenue growth rate through 2021."
Q1 2020-21 financial and product highlights.
- Turnover breakup : Chemical segment 78% with US $ 270Mn, IT & Telecom segment 10% with US $ 36Mn and Merchandise segment 12% with US $ 40Mn
- Chemicals Segment increased by 31%, IT & Telecom Segment increased by 90% and whereas Merchandise Segment shows a decline as compare to Q1 2020.
- With Asian Continent been a largest market with total turnover share of 58%, followed by African Continent with 16%, Others Continent with 15%, Europe Continent with 6% and US continent with 5%
- Under Chemicals Segment, almost 72% of product is related to Pharmaceuticals chemicals & components, which acts as an API's and intermediates for the pharma formulation industries. Whereas, other products include Medicals Consumable 13% and other basic chemicals, Polymers and perfumes comprise of 15%.
- IT & Telecom includes Telecom products with 69%, Computer Software 20% and Audio-Visual Content 11%
- Other Merchandise include Clothing & Textile with 28%, Sports Equipment's with 21%, and others products such Minerals Products, Scrap, Metals, Ferrous and Non Ferrous products.
Pipeline highlights
- To focus on innovative science areas and a sustainable R&D model that supports our growing pipeline.
- Driving towards a greater presence in specialty-care pharma chemicals in balance with other primary care.
- To build a culture that promotes scientific curiosity, is agile and high-performing, and which attracts, develops and retains great people.
- Ensuring Safe Work, fully implemented at all sites/offices.
2021 guidance
- Expecting turnover of US $ 1.30 billion with GP of around US $ 100Mn
- Committing to attract, retain and develop a talented and diverse workforce united in the pursuit of our Purpose and living our Values.
- Committing to operate in a way that recognizes the interconnection between business growth, the needs of society and the limitations of our planet.
- Striking a balance between the interests of the business, our financial creditors and shareholders, and supporting our progressive dividend policy.
From the desk of Managing Director - Mr. Sachin Saini.
"Beaufond Plc is a multi-commodities, trading and distribution company, focused on the acquisition, development, and commercialization of branded running products. With a focus on underserved niche markets and a commitment to innovation, we are working hard to develop and improve the quality of products for our customers and deliver sustained growth and profitability for our shareholders.
Over the past several years, we have transformed Beaufond Plc through a series of successful business development initiatives. In 2019, our strategy for accomplishing our goals was multi- faceted; we achieved the turnover figure of USD 1 billion with help of launching new marketing campaigns and increased the sales support for our products. Those efforts have strengthened our market presence and diversified business.
I am pleased to introduce first quarter ending 30th September 2020 Report. Our approach to reporting on our sustainability performance and activities reflects our mission to ensure Beaufond Plc fulfils its purpose through our established culture and strategy. As in previous years, this report focuses on the areas that we have identified as being material to Beaufond Plc, its assets and both its internal and external stakeholders.
Year 2020 - A year of pandemic. Through this difficult time, Beaufond had been able to maintain its growth. For 1st quarter 2020-21, we had achieved our target by revenue touching US $ 346Mn, as compare to US $ 273 MN same period pervious year 2019-20 with a growth of 27%.
Our ambition is to push the boundaries of science to change the practice of medicine and transform the lives across the globe. Our strategic priorities, reflect how we are working to achieve our Purpose: to push the boundaries of science to deliver the quality product for pharma industries. We are now maximizing and exploring the full potential of our leading products, rapidly advancing and positioning your Company for continued success."
IMPORTANT NOTICE AND DISCLAIMER
This document has been provided to you for information purposes only. This document does not constitute an offer of, or an invitation to invest or deal in, the securities of Beaufond Plc (the "Company"). The information set out in this document shall not form the basis of any contract and should not be relied upon in relation to any contract or commitment. The issue of this document shall not be taken as any form of commitment on the part of the Company to proceed with any negotiation or transaction.
Certain statements contained in this document constitute forward-looking statements relating to the Company, its business, markets, industry, financial condition, results of operations, business strategies, operating efficiencies, competitive position, growth opportunities, plans and objectives of management and other matters. These statements are generally identified by words such as "believe", "expect", "plan", "seek", "continue", "anticipate", "intend", "estimate", "forecast", "project", "will", "may" "should" and similar expressions. These forward-looking statements are not guaranteeing of future performance. Rather, they are based on current plans, views, estimates, assumptions and projections and involve known and unknown risks, uncertainties and other factors, many of which are outside of the Company's control and are difficult to predict, that may cause actual results, performance or developments to differ materially from any future results, performance or developments expressed or implied from the forward-looking statements.
These figures and classifications are unaudited, have not been verified by a third party, and are based solely on management's estimates.
The Company does not make any representation or warranty as to the accuracy of the assumptions underlying any of the statements contained herein. The information contained herein is expressed as of the date hereof and may be subject to change. Neither the Company nor any of its controlling shareholders, directors or executive officers or anyone else has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by applicable laws and regulations or by any appropriate regulatory authority.
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