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.