Foray into lab-related business to drive UMediC growth prospects

PETALING JAYA: UMediC Group Bhd’s foray into the lab-related business and sustained demand for medical devices and consumables are expected to drive its growth prospects in the upcoming quarters.

Hong Leong Investment Bank (HLIB) Research said the integrated healthcare supply chain group’s core net profit for the third quarter of financial year 2023 (3Q23) of RM1.7mil was below both its and consensus expectations, accounting for 58% and 63% full year forecasts respectively.