Top Glove posts record quarterly profit of RM2.38b in Q1 | Money


A worker at a production line in Top Glove factory in Shah Alam August 26, 2020. — Reuters pic

KUALA LUMPUR, Dec 9 — Malaysia’s Top Glove Corp today posted a more than 20-fold jump in first-quarter net profit bolstered by continued high demand for gloves, operational efficiencies and higher selling prices.

Net profit for the September-November period grew 2,030 per cent to RM2.38 billion (US$585.49 million) from RM111.4 million a year ago, the world’s largest glove manufacturer said in a filing to Malaysia’s bourse.

Revenue rose 294 per cent to RM4.76 billion. — Reuters



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