Plastic products maker Vicplas FY loss widens on higher raw material, labor costs

Overview

• Singapore plastic products maker's full-year revenue rose 10% yr/yr to S$127.3 mln

• Company reported full-year net loss of S$5.1 mln, widened from prior year

• Adjusted EBITDA for the year declined 19.6% yr/yr

Outlook

• Company did not provide specific financial guidance or outlook in the interim financial statements

Result Drivers

• HIGHER COSTS - Increased raw material, consumables, and employee expenses contributed to wider net loss

• PIPES DEMAND AND VOLUMES – Pipes and fittings revenue rose 25.0% to S$48.2 mln, supported by Singapore construction activity, Malaysia sales and higher production volumes

• MEXICO RAMP-UP COSTS – Medical devices' loss widened to S$8.7 mln as Mexico incurred a full year of operating costs while projects ramped up, alongside higher input prices

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)