Biosensors reports 60% fall in Q2 net profit

LOWER selling prices and sharply higher costs contributed to medical device manufacturer Biosensors Group International's 60 per cent decline in net profit for its second quarter ended Sept 30.

Net profit fell to US$11.3 million from US$28.2 million a year ago, a decline that analysts said was more than expected.

Management also revised its full-year guidance downwards, from its previously stated 15 per cent growth in full-year revenue to growth that it said will be "moderately positive".