Vincent Medical’s 2019 Interim Revenue and Net Profit Grew by 8.5% and 6.2% respectively

23rd August 2019

Vincent Medical Holdings Limited (“Vincent Medical” or together with its subsidiaries, the “Group”, stock code: 1612) announces its interim results for the period ended 30 June 2019 (“1H2019” or the “Period”) together with the comparative figures for the period ended 30 June 2018 (“1H2018”).

The Group delivered a set of encouraging results, with upticks in both sales and profit for the Period. Driven by higher sales from its original equipment manufacturing (“OEM”) business and particularly its original brand manufacturing (“OBM”) business, the Group achieved a year-on-year (“YoY”) increase of 8.5% in its total revenue, from HK$227.1 million to HK$246.5 million. Gross profit increased by 15.0% YoY to HK$83.7 million (1H2018: HK$72.8 million) and gross profit margin increased by 1.9 percentage points (“p.p.”) to 34.0% (1H2018: 32.1%), attributable to the strong sales growth from the OBM segment, which has a higher gross profit margin than the OEM segment, together with the depreciation of RMB. Profit attributable to owners of the Company increased by 6.2% YoY to HK$13.7 million for the Period (1H2018: HK$12.9 million), with basic earnings per share of the Company reaching HK2.14 cents (1H2018: HK2.02 cents).