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UG Healthcare's 1Q earnings down 41% at $0.7 mil on higher expenses

Michelle Zhu
Michelle Zhu5/13/2019 06:42 PM GMT+08  • 2 min read
UG Healthcare's 1Q earnings down 41% at $0.7 mil on higher expenses
SINGAPORE (May 13): Glove manufacturer UG Healthcare Corporation reported earnings of $0.7 million for the 3Q ended March, down 41.3% from $1.1 million a year ago due to higher operating expenses.
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SINGAPORE (May 13): Glove manufacturer UG Healthcare Corporation reported earnings of $0.7 million for the 3Q ended March, down 41.3% from $1.1 million a year ago due to higher operating expenses.

This brings the group’s earnings for 9M19 to $2 million, representing a 34.5% decline from $3 million in 9M18.

The lower quarterly bottomline comes despite a 22.3% rise in 3Q revenue to $23.7 million from $19.4 million a year ago, mainly due to a higher volume of gloves produced and sold from the commencement of new production lines and an expanded distribution network.

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