August 18, 2025

Medical Disposables and Supplies Limited (MDS)
Unaudited financials for the first quarter ended June 30, 2025:

Medical Disposables and Supplies Limited (MDS) for the first quarter ended June 30, 2025, reported a 3% increase in revenue totaling $998.74 million compared to $972.69 million in the corresponding three months of last year.

Cost of sales amounted to $773.77 million (2024: $732.05 million), representing an increase of 6% year over year. Consequently, gross profit decreased by 7% to $224.96 million compared to $240.64 million for the first quarter ended June 30, 2024.

Administrative expenses increased by 2% to $138.53 million (2024: $135.60 million), while selling and promotional costs increased by 10% from $69.34 million in 2024 to $75.97 million for the quarter. As a result, total operating expenses for the first quarter amounted to $222.54 million, a 5% increase relative to $211.29 million reported in 2024.

Operating profit for the three months amounted to $2.43 million, a 92% decrease relative to $29.35 million reported in 2024.

Finance income totaled $110,769, representing an increase of 187% from the corresponding period last year (2024: $38,565). Finance costs for the first quarter ended June 30, 2025, amounted to $34.69 million, a 12% increase relative to $31.10 million reported in 2024.

The company recorded a loss before tax of $16.42 million compared to a profit before tax of $6.01 million in the prior year. Net loss for the three months amounted to $16.42 million compared to a net profit of $2.16 million reported in 2024. Net loss attributable to shareholders amounted to $11.20 million for the period compared to net profit attributable to shareholders of $5.92 million for the corresponding quarter of 2024.

Consequently, loss per share based on the net loss attributable to shareholders for the three months amounted to $0.04 (2024: EPS: $0.02). The twelve-month trailing loss per share was $0.83, and the number of shares used in these calculations was 263,157,895. Notably, MDS’s stock price closed the trading period on August 15, 2025, at $1.58.

Balance Sheet Highlights:

The company’s assets totaled $2.49 billion, a 9% decrease from $2.75 billion reported in 2024. This decrease was attributable to property, plant, and equipment, which amounted to $644.54 million (2024: $751.62 million).

Shareholders’ equity was $556.10 million (2024: $775.05 million), representing a book value per share of $2.11 (2024: $2.95).

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