{"id":31963,"date":"2023-09-12T13:00:23","date_gmt":"2023-09-12T05:00:23","guid":{"rendered":"https:\/\/umedic.com.my\/Stagging2025\/?p=31963"},"modified":"2023-09-14T11:06:20","modified_gmt":"2023-09-14T03:06:20","slug":"umedics-4q-net-profit-surges-fivefold-to-rm3-37m-on-higher-demand-for-medical-devices-consumables","status":"publish","type":"post","link":"https:\/\/umedic.com.my\/Stagging2025\/umedics-4q-net-profit-surges-fivefold-to-rm3-37m-on-higher-demand-for-medical-devices-consumables\/","title":{"rendered":"UMediC\u2019s 4Q net profit surges fivefold to RM3.37m on higher demand for medical devices, consumables"},"content":{"rendered":"
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KUALA LUMPUR (Sept 12): UMediC Group Bhd’s net profit for the fourth quarter ended July 31, 2023 (4QFY2023) surged fivefold to RM3.37 million, from RM568,000 a year earlier, on the back of higher demand for medical devices and consumables from both public and private hospitals.<\/p>\n<\/div>\n

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In a bourse filing on Tuesday, the company, which markets and distributes various branded medical devices and consumables, said revenue for the quarter jumped to RM12.02 million, from RM7.41 million a year ago.<\/p>\n<\/div>\n

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Earnings per share stood at 0.90 sen, versus 0.15 sen previously.<\/p>\n<\/div>\n

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UMediC did not declare any dividend.<\/p>\n<\/div>\n

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For the full year, net profit rose to RM10.32 million from RM6.43 million, despite posting a lower revenue of RM45.43 million versus RM50.74 million.<\/p>\n<\/div>\n

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In a separate statement, UMediC executive director\/chief executive officer Lim Taw Seong said the results were mainly due to the strong performance of its manufacturing division.<\/p>\n<\/div>\n

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He said that moving forward, the group sees continuous growth in its business.<\/p>\n<\/div>\n

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\u201cThis is mainly due to promising growth of the global medical devices market, as it is projected to reach US$799.7 billion (RM3.74 trillion), with a compound annual growth rate of 5.9% between 2023 and 2030.<\/p>\n<\/div>\n

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\u201cAs global awareness of health increases, the number of patients undergoing early diagnostic and surgical procedures will increase.<\/p>\n<\/div>\n

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\u201cAs a result, it fuels global demand for medical devices and medical consumables,\u201d said Lim.<\/p>\n<\/div>\n

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At the midday break, UMediC had risen 3.77% or three sen to 82.5 sen, with 2.74 million shares traded, giving it a market value of RM308.5 million.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\u2013 The Edge  \u2013<\/p>\n<\/div>\n<\/div>\n

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theedgemalaysia.com<\/a><\/div>\n<\/div>\n

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KUALA LUMPUR (Sept 12): UMediC Group Bhd’s net profit for the fourth quarter ended July 31, 2023 (4QFY2023) surged fivefold to RM3.37 million, from RM568,000 a year earlier, on the back of higher demand for medical devices and consumables from both public and private hospitals. In a bourse filing on Tuesday, the company, which markets […]<\/p>\n","protected":false},"author":129,"featured_media":28859,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"

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UMediC Group Berhad (KLSE:UMC<\/a>) Second Quarter 2023 Results<\/h2>\r\n

Key Financial Results<\/h3>\r\n