SINGAPORE - Shares of medical products supplier Medtecs International advanced further on Wednesday , following its stellar third-quarter financial results that were boosted by explosive demand for personal protective equipment .It eased slightly to trade at $1.57 by the midday break, up 6.1 per cent or $0.09 from Tuesday's close, with 32.1 million shares changing hands.
More than 70 large trades - each with a value of more than $150,000 - were recorded during the morning session, according to Shareinvestor data. Medtecs reported on Tuesday after market close that its revenue had jumped to US$124.6 million for the three months ended September, increasing by 636 per cent from a year ago. Net profit surged by 1,115 times to US$45.7 million for the quarter.
This year, amid the Covid-19 outbreak, Medtecs provided one-stop, bundled services to meet customers' demand for head-to-toe protection by supplementing its existing products with those from third-party vendors.