Medical device maker Mindray sees profit surge in Q3

Oct 18, 2020

Business
Medical device maker Mindray sees profit surge in Q3

Beijing (China), Oct 18: Chinese medical device provider Mindray saw its profit rise in the third quarter (Q3) of this year amid high global demand for medical equipment to diagnose and treat COVID-19.
The Shenzhen-based company expected net profits attributable to shareholders in Q3 to jump 35 to 45 percent year on year, it said in a statement filed with the Shenzhen Stock Exchange.
In the first three quarters, the firm expected revenue to increase 20 to 30 percent year on year, while net profits are expected to surge 35 to 45 percent.
The numbers are preliminary results and are still subject to auditing, the statement said.
The rise came as global demand for equipment including ventilators and mobile digital radiography machines stood relatively high amid the continued spread of the pandemic, the company said.
As China and the rest of the world step up efforts to counter the potential second wave of the pandemic, demand for medical devices is expected to stay high, it said, projecting profit growth of 30 to 40 percent for the whole year.
Source: Xinhua