Business
Why the Uscom (ASX:UMC) share price gained 10% today
Medical device manufacturer Uscom Ltd (ASX: UCM) has today announced a significant increase in its sales and profits for the first 5 months of FY21.
The Uscom share price lifted by 10% after the announcement, and is currently trading at 17.5 cents.
Strong first-half so far
The company’s un-audited accounts shows significant increase in total revenue, profit, and cash inflow compared with the first 6 months of FY20.
For the first 5 months of trading, Uscom says its sales revenue was $2.01 million, up by 196% from the previous corresponding period. Total revenue of $2.26 million, up by 135%.
Profit for the 5 months was $0.18 million, which was an improvement from a loss of $1.5 million.
Meanwhile operating cash inflow for the 5…
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