Malaysian major glove manufacturer, Top Glove Corporation reported a 152% year-on-year jump in profit after tax to RM310 million for FY2026 ended August 31, 2026, as revenue rose 21% to RM4.2 billion and sales volume increased nearly 30%. Fourth-quarter revenue rose 40% year-on-year and 14% quarter-on-quarter to RM1.2 billion, while profit after tax surged 413% year-on-year and 96% from the previous quarter.
Top Glove attributed the stronger results to global glove demand outpacing supply, improving the demand-supply balance and helping manufacturers rebuild margins. Tighter raw material and glove supplies linked to the ongoing Middle East crisis also supported cost pass-through, while quality and cost optimisation, competitive pricing, higher capacity utilisation and process automation strengthened performance and helped ease manpower constraints.
Joint Managing Directors Ng Yong Lin and Lim Jin Feng said FY2026 was a milestone year, with profitability more than doubling from FY2025 through improvements in quality and cost efficiency, productivity and customer relationships in key international markets.
The board declared a tax-exempt final dividend of 1.5 sen per share, payable December 15, 2026, up 213% from FY2025. Total dividends for FY2026 reached RM120 million, three times the previous year’s payout.
Top Glove ended FY2026 with net cash of RM141 million, compared with net debt of RM267 million a year earlier. Professor Dato’ Dr Yang Faridah Abdul Aziz joined the board as an Independent Non-Executive Director on September 1, 2026, following Gan Mei Mei’s departure on August 31. Women now account for 44% of the board, above the 30% recommendation under the Malaysian Code on Corporate Governance.
The group expects steady glove demand from healthcare, industrial and food and beverage markets, while raw material supply and price volatility, higher costs, competition and manpower shortages remain challenges. It plans to reactivate idle facilities as manpower permits and manage higher costs, including the natural gas tariff increase effective October 1, through heat-energy efficiency partnerships and wider use of AI and advanced automation.
Executive Chairman Tan Sri Dr Lim Wee Chai said continued glove demand would support long-term growth, while stronger productivity, quality, cost efficiency and AI integration would help the group remain competitive as it enters FY2027 with a stronger financial position and greater operational flexibility.