SHANGHAI: China’s BGI Genomics Co said it expects first-half net profit to be about eight times the amount reported in the same period last year after the global pandemic created a surge in demand for its coronavirus test kits.
The genomics company, which said it has distributed more than 35 million kits across 180 countries and regions, forecast a net profit of between 1.53 and 1.63 billion yuan (RM929-990 mil) in the six months to end-June, a jump of around 700% from 198 million yuan a year ago.
The novel coronavirus, which first emerged in China late last year, has to date infected over 13 million people globally and killed more than 575,000.
BGI – Beijing Genomics Institute – has grown into one of the world’s largest genomics companies over the past two decades. – July 15, 2020, Reuters
