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Vicplas Recovers From The Red With $5.7 Million FY15 Net Profit
Vicplas International announced FY15 net profit of $5.7 million, a massive improvement from the net loss of $4.1 million last year, on the back of a 17.1 increase in revenue.
Revenue increased to $74.1 million due to increment in contributions from both medical devices segment as well as pipe and pipe fitting segment. Pipes and pipe fitting segment saw a more significant improvement of 22 percent due to the marketing to construction and civil engineering sectors in Singapore, broadening of the customer base and an increase in product offerings.
Despite a 10.1 percent increase in overall operating expense incurred in FY15 due to increased business activities, the significant increment in turnover was able to offset the expenses and ultimately led to the recovery of profitability back into the black.
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