UG Healthcare: 1HFY16 results above expectations. Net profit jumped 34% y/y to $3.2m, largely aided by fatter gross margin and FX gains. Stripping the currency effects ($0.6m), core earnings improved 12.4% to $2.6m.
Revenue stretched 20.1% to $30.1m on increased volume of gloves sold despite achieving lower average selling price.
Gross margin expanded to 23.9% (+3.7ppt) on cheaper raw materials.
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