UMediC Group Bhd (UMC) recorded a profit before tax (PBT) of RM2.6 million and profit after tax (PAT) of RM2.1 million, an increase of 16.8% and 4.7% respectively, for the first quarter of its financial year ending 31 July 2024 compared to the same quarter last year.
For the quarter under review, Malaysia’s leading medical device company reported a revenue of RM14.5 million, representing a leap of 28.4% year-on-year (YoY).
“The higher revenue was primarily attributed to both the marketing and distribution as well as manufacturing segments in line with the higher demand for medical devices and consumables both from overseas and local markets.
“In addition, the group also experienced higher sales volume for its manufactured medical consumables, namely HydroX series prefilled humidifiers and AirdroX series inhaler spacers which further alluded to the stronger profitability.
UMC executive director and chief executive officer Lim Taw Seong said entering a new financial year, the group is excited for yet another favourable year ahead.
“This is following the recent budget announcement for 2024 and overseas enquiries on our newly manufactured products, AirdroX and a few more to come next year as we finalise our research and development activities.
“In anticipation of the oncoming demand, we have gradually ramped up our production capabilities which bode well with the nation’s shift from curative to preventive care that could offer new avenues for the group’s next phase of expansion.
“Furthermore, given our proposed transfer to the Main Market of Bursa Malaysia Securities Berhad which is well underway, UMC is strategically well poised to benefit given the ample opportunities ahead,” he said.
– Business Today –