UG Healthcare posts 72.3% rise FY16 earnings to $5.5 mil

SINGAPORE (Aug 24): Glovemaker UG Healthcare Corporation posted earnings of $5.5 million for FY16, a 72.3% increase over the $3.2 million earnings in FY15.

For the full year to June, revenue rose 5.5% to $58.8 million on higher volumes of gloves produced and sold. This came on the back of new production lines that were constructed and the resulting increase in exports to customers in Europe, USA, Africa and South America.

However, this was partially offset by lower average selling prices of latex examination gloves.

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