Vicplas reports 15% lower profit after tax of $8.8 mil for FY2022 due to rising supply costs and other Covid disruptions

The lower profit after tax for the full year was due to the rising supply chain costs and other disruptions that stemmed from the Covid-19 pandemic, all of which affected the group’s medical devices segment. During the year, the group’s bottom line was also impacted by higher costs associated with business expansions such as increasing manufacturing facility capacity and bringing onboard additional technical and business development resources.