The group’s pipes and pipe fittings segment, however, saw revenue grow by 1.2% y-o-y to $38.7 million as construction activities in Singapore improved.
Vicplas International has reported a profit after tax of $4.2 million for the FY2023 ended July 31, 52.1% lower than its profit after tax of $8.8 million in the year before.
The group’s revenue fell by 1.2% y-o-y to $129.2 million due to lower revenue from its medical devices segment. The segment’s revenue fell by 2.2% y-o-y to $90.6 million on the back of reduced orders from some customers as they rebalanced their post-pandemic inventory levels in response to the gradual recovery of the global logistics situation.
