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COVID-19 dampens financial performance of Wisynco

The COVID-19 pandemic had a dampening effect on Wisynco's financial performance during the July to September quarter.

With the tourism and entertainment sectors, bars, restaurants and schools yet to return to normality, revenues during the three months amounted to $8.1 billion.

That was a six percent decrease from the $8.6 billion  achieved during the corresponding period last year. 

However, Wisynco said it saw some pockets of  improvement with exports increasing 43 per cent or $56 million. 

Despite this, net profit was at $851 million down from $1.1 billion last year.

And listed company Medical Disposables and Supplies had mixed financial results for the second quarter ended September 30.

The company generated sales revenue of  $630 million -  an eleven percent increase compared to the corresponding period in the previous year. 

The growth in sales was driven by increases in the performance of the Pharmaceutical and Medical Divisions.

However, Medical Disposables and Supplies incurred a $6 million  loss for the three months, a decrease of  $12.7 million dollars when compared to the previous year. 

The major contributor to the loss was a one off  finance cost.



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