Supermax Q1 PBT rises 53.5 % to RM40.66 million

glovesSupermax Corporation Bhd’s pre-tax profit for the first quarter ended Sept 30, 2017 jumped 53.5 % to RM40.66 million compared with RM26.49 million recorded in corresponding quarter last year.

Revenue increased 16 % to RM312.02 million from RM269.0 million registered, previously.

In a filing to Bursa Malaysia today, Supermax attributed the higher revenue to better output recorded from refurbishment work done, higher average selling prices in response to increased raw material prices, as well as, a stronger US dollar versus the ringgit.

The glove manufacturer also said efforts taken to improve efficiency and productivity, including the refurbishment of older lines and streamlining of work processes, resulted in the improved profitability.

On prospects, the group said global demand for both natural rubber and nitrile gloves remained strong with healthcare awareness continuing to rise, increasing regulation of the healthcare sector, and ever higher healthcare spending in both the public and private sectors driving demand growth.