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Biosensors posts 18% Q1 profit fall, sees more competition ahead

Revenue rises 5% but costs and expenses also go up

Published Wed, Aug 6, 2014 · 10:00 PM
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BIOSENSORS International Group yesterday posted an 18 per cent fall in its first-quarter net profit on higher costs and expenses.

The medical device manufacturer also warned of greater competition ahead.

"The management expects challenging market conditions such as increased competition and price erosion to continue in the global DES (drug-eluting stents) market," the company said in a regulatory filing. These devices are used to prevent reclogging of the arteries.

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