Medilines Distributors Inc. said it expects to generate P2 billion in sales this year as it expands the product lines under its consumables business.
This target is expected to be supported by the completion of ongoing public and private healthcare facilities projects, which will require equipments that Medilines sells, according to Virgilio Villar, Medilines chairman.
Medilines closed 2021 with profit of P170 million, up 65 percent, over P1.58 billion of sales, up 7.48 percent. Villar also noted that profit margin grew to 21 percent from 17 percent while net profit margin increased to 11 percent from 7 percent.
“We expect sales to improve this year in the wake of increased vaccinations and more relaxed mobility restrictions. Our goal is to push sales to P2 billion this year”, Villar said.
Villar said the quarantine restrictions had hobbled Medilines’ ability to reach certain project milestones in the previous years, which slowed down the company’s ability to collect from customers.
