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Medtecs reports lower revenue and earnings for 9M2021

Goola Warden
Goola Warden11/22/2021 07:27 PM GMT+08  • 2 min read
Medtecs reports lower revenue and earnings for 9M2021
Medtecs reports lower revenues and earnings for the 9M2021 period but says growth plans remain on track.
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In business updates for the 9M2021 to Sept 30, Medtecs International Corp announced that its total revenues decreased to US$115.36 million, with after-tax net profit decreasing by 77% to US$19.26 million, compared to the same period last year.

See: Medtecs to apply for transfer to SGX-ST Mainboard; to join MSCI Singapore Small Cap Index

Demand for the Group’s personal protective equipment (PPE) has lowered compared to previous quarters due to completion of stock-piling exercises by its existing customers in 2020, the subsequent inventory adjustment attributable to certain customers, and the stabilisation of the supply and prices of the PPE market globally.

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