PETALING JAYA: UMediC Group Bhd
(UMC) is confident of its growth prospects, and will continue to focus on its market expansion activities and expanding its product portfolio.
UMC is involved in the marketing and distribution of various branded medical devices and consumables and had debuted on the ACE Market on July 26.
For its financial year ended July 31, 2022 (FY22), net profit rose 26.3% to RM6.43mil while revenue grew 48.7% to RM50.74mil.
Earnings per share for FY22 was 1.72 sen versus 1.36 sen a year earlier.
In a statement, UMC said the improved earnings were due to higher demand for medical devices and consumables from domestic and foreign markets.
In a Bursa Malaysia filing, UMC also said the higher top line was also contributed by the increase in the sales of its manufactured medical consumables, namely, the HydroX series prefilled humidifiers with a better foreign exchange rate for overseas revenue.
The group noted that its marketing and distribution segment accounted for 80.1% of revenue, with the remaining coming from the manufacturing segment which has been gaining traction.
For its fourth quarter, UMC posted a net profit of RM568,000 while revenue was at RM7.4mil. During the quarter, the group also commercialised its AirdroX series inhaler spacers.
UMC also stated its financial position remained robust with a current ratio of 5.78 times and net gearing ratio of 0.15 times.
“We believe that this is a good indication of what to expect in the coming years, given the recovery of the economy along with the various growth drivers like healthcare tourism, as well as the support from the government which will spur our business growth.
“Given that UMC is still at a growth phase, we believe that we remain well positioned to capture all these opportunities,” said UMC executive director and CEO Lim Taw Seong.
UMC reiterated that its future plans and business strategies included the construction of a new factory building in Batu Kawan, Penang as the group expects better sales in the future.
It is also setting up a new marketing and distribution office each in Kuala Lumpur and Johor Baru, as well as developing and commercialising new products under its own brand, namely, sterile water for inhalation, prefilled nebulisers, digital oxygen flowmeters and humidifier humidity sensors.
It also aims to develop new brand distribution channels.
