Recently listed UMediC Group Berhad announced its results for the first quarter of the financial year reporting a revenue of RM11.3 million, marking a 52.7% quarter-on-quarter growth, against the previous quarter’s RM7.4 million.
The medical device company’s profit before tax clocked in at RM2.2 million which translated to a significant increase of 650.0%, in comparison to Q4FYE2022. Profit after tax surged by 252.6% to RM2 million compared to the previous quarter’s RM0.6 million.
UMC said the 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 Executive Director/Chief Executive Officer Lim Taw Seong said, “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.”
