UMediC's Main Market transition and expansion plans on track

UMediC Group Bhd's manufacturing plant in Batu Kawan, Penang.

KUALA LUMPUR: UMediC Group Bhd’s (UMC) transition to the main market is progressing well on track, according to executive director/chief executive officer Lim Taw Seong.

“We believe that this strategical move is poised to unlock vast new opportunities for us to further growth and expand which underscores our continuous commitment in bringing excellence towards healthcare catering to the evolving needs of the industry,” Lim said in a statement.

“As we continue to expand, we have also started to ramp up our efforts by strengthening our workforce in anticipation of the imminent launch of our new facility slated to commence production in the coming months.

“The new factory will not only double our manufacturing capabilities but also enable us to meet the rising demand for medical consumables globally enabling us to better grow our regional footprint and propel us to new heights,” he added.

The medical device maker’s net profit fell 14.7% to RM2.5mil in the second quarter ended Jan 31 compared with RM2.9mil in the same quarter last year.

Revenue rose 7.7% to RM13.5mil against RM12.5mil posted a year earlier. Earnings per share for the period fell to 0.66 sen from 0.78 sen previously.

In the first six months to Jan 31, UMC posted a net profit of RM4.4mil, down 11% from RM4.9mil while revenue expanded RM28mil from RM23.8mil a year ago.