Medtecs profit tumbles 87% to US$17.3m on lower demand for PPE, face masks
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
PROTECTIVE gear manufacturer Medtecs International on Tuesday (Mar 1) posted a net profit of US$17.3 million for the full year ended Dec 31, 2021, 87 per cent lower than the US$131.7 million posted in the year-ago period.
This was mainly due to decreased demand and margins for personal protective equipment (PPE) and face masks, the company said in a bourse filing.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
