Malaysian glovemaker Hartalega’s net profit for the third quarter ended Dec 31, 2017 jumped 70% to RM113.02mil compared to the previous corresponding quarter, driven by higher sales and improvement in production capacity.
The company said in a filing with Bursa Malaysia that the higher net profit was also contributed by increased operating income, which arose from net foreign-exchange gains.
Revenue in the third quarter increased to RM603.14mil from RM456.29mil a year earlier, due to the 36.2% increase in sales volume.
For the nine-month period, meanwhile, Hartalega’s net profit grew to RM322.75mil from RM193.62mil in the previous corresponding period, while revenue improved to RM1.79bil from RM1.30bil.
The company also aimed to launch its anti-microbial gloves in Europe by the second quarter of this year.
(RJA)
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