Glove maker UG Healthcare is clearly a winner in the Covid-19 pandemic. In its latest FY2021 ended June, the group saw recorded earnings of $118.8 million, a significant increase from just $13.4 million in FY2020. 

Similarly, revenue surged to $338.4 million from $144.2 million, due to the increase in the volume of products produced and sold following the commencement of new production lines, which increased capacity by 500 million gloves per annum, as well as increase in glove selling prices resulting from outbreak of Covid-19.

As a result of the above, revenue for latex examination gloves, nitrile gloves and other ancillary products have increased by 97.2%, 193.2% and 57.1% respectively in FY2021 as compared to FY2020.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook