UMediC upbeat on medical device industry

The company said it remains confident of its growth trajectory.

PETALING JAYA: UMediC Group Bhd believes the local medical device industry is poised for growth and development, bolstered by a conducive environment for manufacturing and a mature healthcare system that is globally recognised.

Barring unforeseen circumstances, the company said it remains confident of its growth trajectory, it said in a Bursa Malaysia filing.

For the fourth quarter ended July 31, 2024, UMediC’s net profit dipped to RM3.04mil compared with RM3.37mil in the previous corresponding period, while revenue grew to RM14.88mil from RM12.02mil a year earlier.

UMediC said the increase in revenue was contributed by both the marketing and distribution and manufacturing segments. For the financial year ended July 31, 2024, UMediC’s net profit dropped to RM8.99mil from RM10.32mil while revenue grew to RM54.57mil from RM45.43mil a year earlier.