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Vicplas reports 15% lower profit after tax of $8.8 mil for FY2022 due to rising supply costs and other Covid disruptions

Felicia Tan
Felicia Tan9/23/2022 08:26 AM GMT+08  • 4 min read
Vicplas reports 15% lower profit after tax of $8.8 mil for FY2022 due to rising supply costs and other Covid disruptions
A final dividend of 0.45 cent per share has been declared. The dividend will be paid out on Jan 20, 2023.
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Vicplas International has reported profit after tax of $8.8 million for the FY2022 ended July 31, 15.0% lower than the profit after tax of $10.4 million in the corresponding period the year before.

Profit after tax for the 2HFY2022 stood 29.4% lower at $3.8 million from the previous year’s $5.4 million.

The lower profit after tax for the full year was due to the rising supply chain costs and other disruptions that stemmed from the Covid-19 pandemic, all of which affected the group’s medical devices segment. During the year, the group’s bottom line was also impacted by higher costs associated with business expansions such as increasing manufacturing facility capacity and bringing onboard additional technical and business development resources.

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