ACE Market Debuted UMediC Reported A 50% Jump In PAT For FY2022

Newly listed, UMediC Group Berhad reported a surge in revenue and profit before tax by 48.7% and 29.4% respectively, year on year, to RM50.7 million and RM8.5 million. The profit after tax, excluding the one-off listing expenses, leaped by 50% to RM8.4 million.

The group said the earnings were attributed to the higher demand for medical devices and consumables given the continued domestic and foreign investments. UMC’s marketing and distribution segment accounted for 80.1% of the total revenue with the remaining coming from the manufacturing segment which has been gaining traction since its introduction.

For the fourth quarter of the financial year, UMC recorded revenue, PBT, and PAT of RM7.4 million, RM0.3 million, and RM0.6 million respectively. UMC says its financial position remains robust with a current ratio of 5.78 times and a net gearing ratio of 0.15 times.

UMC executive director/chief executive officer Lim Taw Seong commenting on the result said “We believe that this is a good indication of what to expect in the coming years given the recovery of the economy along with the various growth drivers like healthcare tourism as well as the support from the government which will spur our business growth. Given that UMC is still at a growth phase, we believe that we remain well positioned to capture all these opportunities which are aligned with our plans for UMC as a whole.”

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