Vincent Medical Announces 2017 Interim Results

25th August 2017

Vincent Medical Holdings Limited (“Vincent Medical” or together with its subsidiaries, the “Group”, stock code: 1612), the second largest exporter of respiratory and anaesthesia disposables in China and a Hong Kong-headquartered medical device group, has announced its interim results for the six months ended 30 June 2017 (the “Period”).

During the Period, Original Brand Manufacturing (“OBM”) business recorded continuous growth, but partly offset by the decrease in Original Equipment Manufacturing (“OEM”) business revenue. Total turnover of the Group was down by 13.7% to HK$205.4 million and gross profit decreased by 9.0% to HK$70.9 million. Nonetheless, thanks to strong and focused execution of business strategy, the Group’s gross profit margin improved by 1.8 percentage points to 34.5%. The Group continued to invest for the future and increased the headcount of its production, quality assurance and sales and marketing teams during the Period. Adjusted profit attributable to owners of the Company amounted to HK$14.8 million (for the period ended 30 June 2016: HK$29.4 million), this was due mainly to higher administrative expenses and decrease in turnover during the Period.