Top Glove earnings up 51 %; announces M&As

October 13, 2017

glovesMalaysian company Top Glove Corporation Berhad has announced that its earning has increased by 51% for the fourth quarter ended Aug 31, 2017 at RM98.62mil.

It also announced plans to increase production and explore inorganic expansion via mergers and acquisitions.

The world’s biggest glove maker, said on Friday the earnings rose by 51% from the RM65.32mil a year ago while revenue increased by 24.9% to RM902.42mil from RM722.11mil.

Earnings per share were 7.87 sen compared with 5.21 sen. It rewarded shareholders with a final dividend of 8.5 sen similar to the previous quarter.

For FY ended Aug 31, 2017, its earnings fell 7.7% to RM332.70mil from RM360.73mil in FY16 during which Top Glove benefited from positive external factors of currency impact and lower raw material prices.

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