VicPlas International Ltd. (SG:569) has released an update.
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VicPlas International Ltd reported a 20.8% decline in revenue for FY2024, largely due to a 30.3% drop in its medical devices segment, resulting in a loss of $1.36 million. The decline was attributed to reduced post-pandemic inventory levels and increased operating costs from plant expansions in Changzhou and Mexico. The company’s new Mexico plant is nearing completion and is expected to contribute to revenue by the second half of FY2025.
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