UG Healthcare sees 8-fold surge in full-year earnings to S$118.8m amid strong demand for gloves

Singapore

GLOVEMAKER UG Healthcare reported a nearly eightfold surge in net profit to S$118.8 million for its financial year ended June 30, with the Covid-19 pandemic boosting the use of disposable gloves.

For the first six months of 2021, net profit jumped more than fourfold to S$63.8 million, up from S$12.6 million in the same period last year, said an interim financial statement released by the Catalist-listed company on Friday after market close.

Revenue for H2 swelled 96.6 per cent to S$179 million…

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