UMC today announced its results for the first quarter of the financial year ending 31 July 2023 (Q1FYE2023).
The medical device company reported revenue of RM11.3 million for Q1FYE2023, marking a 52.7% quarter-on-quarter (QoQ) growth, against the previous quarter’s (Q4FYE2022) RM7.4 million. UMC’s profit before tax (PBT) clocked in at RM2.2 million which translated to a significant increase of 650.0%, in comparison to Q4FYE2022. Profit after tax (PAT) surged by 252.6% to RM2.0 million compared to the previous quarter’s RM0.6 million.
The exciting financial performance of the Group was driven by the robust demand for medical devices and consumables. For Q1FYE2023, the Group’s marketing and distribution segment’s revenue rose by 96.0% as compared to Q4FYE2022.
“UMC once again showcased its promising business track record in the face of multiple headwinds. Given the rise of health awareness across the world, the demand for medical devices and consumables remained robust. We believe that the high level of demand will continue to be the main catalyst for our business growth in the coming years. On top of that, we focus on our in-house research and development (R&D) processes. Our R&D team had successfully developed medical consumables and there are a few new products in the pipeline. With our innovation capability, we believe our manufacturing segments will be the important revenue driver in the near future,” UMC Executive Director/Chief Executive Officer Lim Taw Seong said.
