2 Stocks That Are Soaring Because of the COVID-19 Pandemic

The pandemic is turning out to be more than just a health crisis, as many countries are forced to sacrifice their economies to stop the spread of the deadly virus.And even as many countries are now easing their lockdowns and re-evaluating opening up their borders, it may take considerable time for economic recovery due to the uncertain nature of the pandemic.Some, like Singapore Airlines Limited , may never be the same again.

The stock price has been hovering between S$0.03 to S$0.06 over the last five years till early Jan 2020. When Medtecs released its unaudited first quarter 2020 earnings, revenue had more than doubled from US$16.7 million to US$39.8 million, while net profit jumped 15-fold from US$227,000 to US$3.67 million.

Assuming annualised full-year net profit of US$14.7 million , earnings per share would soar to S$0.0371.Moving forward, it remains to be seen if such high demand can be sustained over the medium-term. From the fiscal year 2014 through to 2019 , revenue grew steadily from RM 2.3 billion to RM 4.8 billion.For Top Glove’s third-quarter fiscal year 2020 earnings, it reported record quarterly revenue of RM 1.69 billion, while net profit soared more than five-fold from RM 74.7 million to RM 347.9 million.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo: Stocks edge up in cautious trading[TOKYO] Tokyo stocks closed marginally higher Thursday following rallies on the Nasdaq on Wall Street, but traders remained cautious over growing coronavirus infections around the world. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Hong Kong: Stocks open on positive note[HONG KONG] Hong Kong returned from a one-day break to start with gains on Thursday morning, following a rise across world markets and despite concerns about China's controversial new law for the city. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Ascendas Reit, SIA, Suntec Reit, UIC, Frasers Centrepoint TrustTHE following companies saw new developments that may affect trading of their shares on Thursday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

EMERGING MARKETS-Rupiah pressured as rate cut bets rise; stocks struggleREUTERS
Source: TODAYonline - 🏆 1. / 99 Read more »

EMERGING MARKETS-Rupiah pressured as rate cut bets rise; stocks struggleREUTERS
Source: TODAYonline - 🏆 1. / 99 Read more »

Europe: Stocks steady at open[LONDON] European stock markets steadied at the start of trading on Wednesday following an extremely strong quarter for global equities. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »