Global surge in demand for PPEs attributed to the increase in revenue.
Taiwan-headquartered and SGX-listed Medtecs International Corporation Limited's revenue soared by 480.4% to $532.6m (US$400.3m) for the year-ended 31 December 2020.
The increase in revenue was attributed to the global surge in demand for personal protective equipment (PPEs).
Gross profits were recorded to be $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year’s $13.9m (US$10.5m).
The net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.
Established in 1989 in the Philippines, the group has manufacturing facilities in the Philippines, Cambodia and China, and is a key supplier to global PPE companies, exporting to over 30 countries in Europe, United States, South East Asia, North Asia, and Australia. Medtecs also serves as a one-stop vendor to hospitals, supplying PPE, workwear and medical consumables to more than 200 hospitals in Taiwan and the Philippines. It is also a key partner for Taiwan’s and Singapore’s national PPE stockpiles.
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