Umedic to focus on market expansion


PETALING JAYA: Umedic Group Bhd will be focusing on market expansion activities to further grow its business.

In a filing with Bursa Malaysia, the medical device company said it already has several plans and business strategies in place.

Among them is the construction of a new factory building in Batu Kawan, Penang, in anticipation of future increase in sales.

Umedic said it will increase inventory levels of product distribution from its marketing and distribution segment, as well as raw materials and finished goods from its manufacturing segment.

For its first quarter ended Oct 31, 2022, Umedic reported a net profit of RM2mil, on revenue of RM11.31mil. There are no comparative figures for the preceding corresponding quarter as this is the third interim financial statement announced by the company.Basic earnings per share stood at 0.54 sen.

Umedic said revenue and net profit for the quarter were contributed by both the marketing and distribution and manufacturing segments. “The increase was mainly due to a higher demand for medical devices and consumables from both public and private hospitals, as well as healthcare service providers.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

CPO futures likely to trade in yo-yo mode next week
Maybe Apple’s weakness isn’t just supply chain woes
Good news for the global economy
BP, Chubu Power to study CCS project at Nagoya
Short Position: Private equity exits, Managing cyber threats, Don’t kick the can down the road
Bonds surge as traders call time on hikes
Central banks continue fight against inflation
Defining market manipulation
Lee Chun Fai redesignated as IJM CEO and MD
Oil set for weekly loss

Others Also Read