Vicplas International Sees Swing to Loss in FY24 on Lackluster Medical Device Unit

MT Newswires09-25

Vicplas International (SGX:569), a medical devices and pipes manufacturer, expects to record a consolidated loss after tax of less than SG$1.8 million for the financial year ended July 31, 2024, reversing a S$4.2 million profit the previous year, according to a Tuesday filing on the Singapore Exchange.

The loss is being attributed to challenges in its medical devices segment, including lower sales as customers adjusted post-pandemic inventory levels, and higher costs linked to its Changzhou plant expansion and the startup of a new facility in Juarez, Mexico.

Despite this, the group's adjusted EBITDA is expected to remain positive, between SG$6.5 million and SG$7.5 million, compared to SG$14.7 million last year, supported by its pipes and pipe fittings segment.

Price (SGD): S$0.10, Change: S$+0.0010, Percent Change: +1.04%

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