Mainboard-listed Vicplas International achieved earnings of $5 million for the 1HFY2021 ended January 31, representing a 120% growth y-o-y from $2.3 million previously.
The increase in earnings follows higher revenue and other income for the period. Revenue grew 19.8% y-o-y from $47.2 million to $56.5 million, driven by increased customer orders from the medical devices segment, while other income grew 120% from $1 million to $2.8 million on the back of higher income from building tools for customers as well as Covid-19 grants totalling $0.5 million.
The increased revenue from the medical devices segment, which grew by 35.7% to $40.1 million, was partially offset by lower revenue for the pipes and pipe fittings segment, which decreased 7.6% to $16 million from $17.3 million previously. The company attributed the lower revenue to the construction industry that is still recovering from the disruptions caused by the Covid-19 pandemic.
