The net loss for 4QFY2021 was mainly due to inventory provisions for personal protective equipment (PPE) amounting to approximately US$3 million arising from the lower average selling prices for PPE in the current global market.
Medtecs International Corporation is expected to incur a net loss for 4QFY2021, says the company in a Singapore Exchange (SGX) filing on Feb 11.
"Even though 3QFY2021 ended Sept 30, 2021 generated a net profit, the net loss for 4QFY2021 had resulted in a net loss for 2HFY2021. However, the company is still expected to generate a net profit for FY2021," reads the filing.
