UG Healthcare Corporation says it expects to report a loss for its 1HFY2023 ended Dec 31 2022, due to higher operating costs even as average selling prices drop.
Customers, according to the company, are holding smaller levels of inventories, thereby contributing to the dip in demand.
Across the board, glove makers have been seeing similar trends as the pandemic ease and once white-hot demand for their products dissipate.
UG Healthcare will report its earnings on Feb 14.
UG Healthcare shares closed on Jan 31 at 18 cents, up 0.55% for the day, but down 32.59% over the past year.
Separately, Meta Health, which is in the midst of transforming from a metal parts maker to a healthcare company, has sounded its own profit warning.
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It expects to report a loss for its FY2022 ended Dec 31 2022.
Meta Health attributes this to the drop in revenue from the metal parts business, due to the lockdown in China which affected sales and operations.
The company will report on or before March 1.
Meta Health closed Jan 31 at 2.2 cents, down 8.33% for the day, and down 45% over the past year.
