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UG Healthcare

PostPosted: Thu Aug 25, 2016 8:45 am
by winston
not vested

UG Healthcare posts 72.3% rise FY16 earnings to $5.5 mil

By Gwyneth Yeo

SINGAPORE (Aug 24): Glovemaker UG Healthcare Corporation posted earnings of $5.5 million for FY16, a 72.3% increase over the $3.2 million earnings in FY15.

For the full year to June, revenue rose 5.5% to $58.8 million on higher volumes of gloves produced and sold. This came on the back of new production lines that were constructed and the resulting increase in exports to customers in Europe, USA, Africa and South America.

However, this was partially offset by lower average selling prices of latex examination gloves.

Gross profit margin increased by 0.9 percentage points to 21.6% due to the reduction in cost of purchases of ancillary products.

Other income increased by 70.7% to $2.4 million, thanks to a $0.3 million fair value gain on financial derivatives and a $1.3 million realised foreign exchange gain.

These were mitigated by the $0.6 million decrease in unrealised foreign exchange gain and the negative goodwill of $0.1 million in FY15 that was not repeated in FY16.

Share of profits from associates increased $0.2 million to $0.7 million from higher contribution of profits from the group’s associated company in Germany.

UG Healthcare says that the fluctuation in commodity prices which affects its raw material costs as well as the fluctuation in the currencies it deals with, will continue to be a challenge.

However, the group notes that it has achieved the planned production capacity of 1.9 billion gloves per annum at end June, and will gradually ramp up production by another 500 million gloves per annum to achieve a production of 2.4 billion gloves per annum by June 2017.

At the same time, it is upgrading its existing production lines to enhance operational efficiencies, and plans to develop the plot of land adjacent to its existing manufacturing facility for further expansion.

The group has declared a first and final dividend of 0.587 cent per share for the fiscal year.

Shares in UG Healthcare closed 3.2% lower at 30.5 cents.

Source: The Edge ... f-87358173

Re: UG Healthcare

PostPosted: Tue Nov 21, 2017 4:41 pm
by behappyalways
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Re: UG Healthcare

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by behappyalways
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PostPosted: Sat Nov 17, 2018 5:39 pm
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Re: UG Healthcare

PostPosted: Sun May 19, 2019 8:09 pm
by behappyalways
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Re: UG Healthcare

PostPosted: Tue Aug 27, 2019 6:13 pm
by behappyalways
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