Malaysian company Top Glove Corporation Berhad’s net profit for the second quarter ended February 28, 2018, rose by 32.2 % year-on-year to a soaring RM109.99 million.
Revenue increased to RM958.44 million from RM851.54 million a year earlier, as sales volume surged by an all-time high of 21 %.
“The significant growth in sales volume was mainly attributed to an increase in demand for natural rubber gloves, underscoring the importance of having a balanced product mix comprising both natural rubber and nitrile gloves, which is aligned to the market demand,” it added.
On prospects, Top Glove said it would continue to pursue strategic expansion via the organic and non-organic routes.
“We are in the process of constructing two new manufacturing facilities, namely Factory 31 (operational by June 2018) and Factory 32 (operational by early 2019), which upon completion will boost the group’s total number of production lines by an additional 78 lines and production capacity by 7.8 billion gloves per annum,” it said.