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UG Healthcare’s 1H17 earnings fall 58% to $1.4 mil

PC Lee
PC Lee2/8/2017 07:29 PM GMT+08  • 2 min read
UG Healthcare’s 1H17 earnings fall 58% to $1.4 mil
SINGAPORE (Feb 8): UG Healthcare Corporation, the gloves manufacturer and distributor, recorded a 57.8% decrease in earnings to $1.4 million in 1H17 ended Dec from $3.2 million a year ago, on the back of an unforeseen significant increase in raw materials
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SINGAPORE (Feb 8): UG Healthcare Corporation, the gloves manufacturer and distributor, recorded a 57.8% decrease in earnings to $1.4 million in 1H17 ended Dec from $3.2 million a year ago, on the back of an unforeseen significant increase in raw materials costs.

Revenue rose 2.7% to $31 million in 1H17 from $30.1 million in 1H16 mainly due to the increase in the volume of gloves produced and sold, but was partially mitigated by the decreased in the average selling price of gloves.

During the six months under review, the cost of raw materials, in particular, the natural latex and nitrile prices had increased significantly, said UG Healthcare.

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