November 19, 2025
Medical Disposables and Supplies Limited (MDS)
Unaudited financials for the six months ended September 30, 2025
Medical Disposables and Supplies Limited (MDS) reported a 6% increase in Revenue for the six months ended September 30, 2025, totaling $2.00 billion compared to $1.88 billion in the corresponding period last year. Revenue for the second quarter increased by 11% to close at $1.00 billion compared to $907.74 million for the comparable quarter of 2024.
Cost of Sales amounted to $1.55 billion (2024: $1.44 billion). This represents a 7% increase year over year. As a result, gross profit increased by 3% to $453.29 million compared to $439.02 million for the six months ended September 30, 2024. The company booked gross profit of $228.30 million for the second quarter versus $198.38 million reported for the similar quarter of 2024.
Administrative expenses increased by 5% to close at $275.78 million (2024: $262.95 million), while selling and promotional costs increased by 2% from $151.05 million in 2024 to $154.48 million in the period under review. Consequently, total operating costs for the six months ended September 30, 2025, amounted to $445.34 million, reflecting a 3% increase relative to $431.83 million reported in 2024.
Operating Profit for the six months ended September 30, 2025, amounted to $7.95 million, reflecting a marginal increase compared to $7.20 million reported in 2024. Operating Profit for the second quarter amounted to $5.56 million, compared to an Operating Loss of $22.15 million recorded for the similar quarter of 2024.
Finance income totalled $119,593, representing a 195% increase from the corresponding period last year (2024: $40,584), while finance costs amounted to $68.03 million, showing a slight increase relative to $67.83 million in 2024.
Loss before tax for the six months ended September 30, 2025, amounted to $23.23 million, a 51% decrease compared to $47.73 million reported in 2024. Loss before tax for the second quarter amounted to $6.78 million, compared to a loss before tax of $53.74 million reported for the similar quarter of 2024.
No taxation was reported for the six-month period. Net loss amounted to $23.23 million, a 51% improvement relative to the net loss of $47.73 million reported in 2024. For the second quarter, net loss amounted to $6.78 million (2024: net loss of $49.89 million).
Consequently, Loss Per Share for the six months amounted to $0.08 (2024: $0.14), while Loss Per Share for the quarter totalled $0.04 (2024: $0.16). The twelve-month trailing LPS was $0.71, and the number of shares used in these calculations was 263,157,895.
Notably, MDS’s stock price closed the trading period on November 18, 2025, at $1.51.
Balance Sheet Highlights
The company’s assets totalled $2.88 billion, representing a 1% increase compared to $2.84 billion booked in 2024. This increase was mainly attributable to property, plant and equipment, which amounted to $1.01 billion (2024: $744.43 million).
Shareholders’ equity was $937.46 million (2024: $731.92 million), reflecting a book value per share of $3.56 (2024: $2.78).
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