Supermax Corp Bhd has announced a net profit of RM35.9 million for the second quarter ended Dec 31, 2017.
This is up 59% year-on-year following stronger demand for gloves.
.Revenue for the quarter stood at RM335.91mil, higher than the RM236.73mil made in the same period a year ago.
The glove manufacturer has rewarded shareholders with an interim dividend of three sen a share.
Announcing its results, the glove manufacturer said it remains upbeat on the outlook for global demand for both natural rubber and nitrile gloves, with healthcare awareness continuing to rise.
“While we are able to benefit from new lines commissioned at its latest and most advanced and efficient manufacturing plants, management reckons that lean manufacturing processes are crucial for reaping full potential gain from all of its manufacturing plants,” it said in a filing with the stock exchange.
Year-to-date net profit was higher at RM63.80mil as compared to the RM42.10mil registered in the first half of financial year 2017.
(RJA)
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The group said the price of latex, the main raw material to produce rubber gloves, had fallen from a peak RM7.47 per kg in the first quarter of 2017 to an average of RM4.79 per kg wet in the fourth quarter of 2017.
Prices have eased further to an average of RM4.75 per kg in the month of January 2018 and RM4.66 as at Feb 8.