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…