UG Healthcare

UG Healthcare

Postby winston » Thu Aug 25, 2016 8:45 am

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

http://smr.theedgemarkets.com/article/u ... f-87358173
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Re: UG Healthcare

Postby behappyalways » Tue Nov 21, 2017 4:41 pm

ug-healthcare-posts-88-rise-1q-earnings-09-mil-higher-revenue
https://www.theedgesingapore.com/ug-hea ... er-revenue
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Re: UG Healthcare

Postby behappyalways » Mon Feb 19, 2018 5:19 pm

UG Healthcare posts 75% surge in 2Q earnings to $1 mil on ramp-up of new production lines and selling prices
https://www.theedgesingapore.com/ug-hea ... ing-prices
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Re: UG Healthcare

Postby behappyalways » Thu Jun 14, 2018 11:03 am

UG Healthcare posts 3Q earnings up 16.7% to $1.1 mil
https://www.theedgesingapore.com/ug-hea ... 167-11-mil
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Re: UG Healthcare

Postby behappyalways » Sat Nov 17, 2018 5:39 pm

UG Healthcare posts 1Q earnings up 20.8% to $1.04 mil
https://www.theedgesingapore.com/ug-hea ... 08-104-mil
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Re: UG Healthcare

Postby behappyalways » Sun May 19, 2019 8:09 pm

UG Healthcare's 1Q earnings down 41% at $0.7 mil on higher expenses
https://www.theedgesingapore.com/ug-hea ... r-expenses
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Re: UG Healthcare

Postby behappyalways » Tue Aug 27, 2019 6:13 pm

UG Healthcare posts 42% lower FY19 earnings of $2.5 mil on higher costs
https://www.theedgesingapore.com/capita ... gher-costs
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Re: UG Healthcare

Postby behappyalways » Sun Feb 16, 2020 3:33 pm

UG Healthcare reports higher revenue but lower earnings
https://www.theedgesingapore.com/news/r ... r-earnings
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Re: UG Healthcare

Postby winston » Mon Jul 13, 2020 2:30 pm

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UG Healthcare a preferred pick among rubber glove counters listed here: CGS-CIMB

by Amala Balakrishner

SINGAPORE (July 13): The hike in average selling prices (ASPs) of Malaysian-based glove makers makes UG Healthcare a counter to watch, notes CGS-CIMB analyst Ong Khang Chuen.

“UG Healthcare remains our preferred pick among the Singapore-listed rubber glove sector, due to its undemanding valuation (a c.60% discount to the Malaysia-listed glove sector average CY21F P/E of 29.3x),” he says in a July 8 note.

Specifically, he believes the counter is able to a garner stronger average selling price (ASP) upside potential than its peers.

“We now impute a 20% ASP growth quarter-on-quarter for UGHC’s own brand manufacturing (OBM) gloves (which accounts for c.70% sales volume) in 4QFY6/20F and 1QFY21F into our model.

We forecast UGHC’s current ASPs to hold up till 1Q21, before a gradual normalisation of prices as higher industry supply kicks in,” he elaborates.

The brokerage is hence reiterating its “add” or “buy” call on UG Healthcare, but at a revised target price of $2.10. This is up 74 cents or 54.4% from its previous $1.36 call.

Ong believes the higher target price will give the counter a 34.6% upside from its $1.56 close on July 8.

Meanwhile, he expects UG Healthcare to record a “sequentially stronger” net profit of $10.1 million in its 2HFY20F, a 11.9x jump from the previous year.

Aside from the lift from higher ASPs, Ong points to lower raw material prices, cost savings from internal efficiency enhancements and better economies of scale, for the improved earnings.

Source: The Edge

https://www.theedgesingapore.com/capita ... e-cgs-cimb
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Re: UG Healthcare

Postby behappyalways » Wed Aug 12, 2020 12:56 pm

UG Healthcare posts 'significant increase' in 2H20 earnings of $12.6 mil due to growth in volume of glove products
https://www.theedgesingapore.com/capita ... wth-volume
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