Most companies’ price charts for 2020 would have shown a big plunge in March and April, as the fear over the pandemic infected the market. But the price chart of Taiwan-based Medtecs International stood out for its dramatically different pattern.

Precisely because of the pandemic, demand for personal protective equipment (PPE), which the company sells, enjoyed a huge surge — with both higher volumes and selling prices lifting Medtecs earnings and share price throughout the year.

For FY2020 ended December 2020, Medtecs reported revenue of US$400.3 million ($538.6 million), up 480.4% over FY2019. Thanks to better economies of scale and a higher proportion of higher-margin products, Medtecs’ earnings in the same period shot up by a whopping 11,196.4% to US$131.7 million, versus FY2019’s US$1.16 million.

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