UG Healthcare's Q1 net profit jumps to S$22.7m from S$305,000

Uma Devi

Published Thu, Nov 5, 2020 · 09:50 PM

Singapore

GLOVE manufacturer UG Healthcare Corporation on Thursday reported net profit of S$22.7 million for the first fiscal quarter ended September, a 74-fold increase from net profit of S$305,000 in the corresponding quarter last year.

The group's latest quarterly profit had also exceeded its FY2020 net profit of S$13.4 million, said the group in a bourse filing.

UG Healthcare's revenue for the quarter rose to S$71.2 million from S$26.3 million in the year-ago period.

A higher volume of gloves sold, as well as higher average selling prices had helped boost the group's topline figures. Stronger demand for disposable gloves and supply constra…