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Top Glove trims Q2 loss to RM51.2 million, aims to return to profit in 2 quarters

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Megan Cheah

Megan Cheah

Published Wed, Mar 20, 2024 · 02:06 PM — Updated Thu, Mar 21, 2024 · 07:28 AM
    • The group attributes the improved results to its ongoing quality- and cost-optimisation initiatives, coupled with operational enhancements it had previously laid out in its turnaround plan.
    • The group attributes the improved results to its ongoing quality- and cost-optimisation initiatives, coupled with operational enhancements it had previously laid out in its turnaround plan. PHOTO: BT FILE

    TOP Glove Corporation executive chairman Lim Wee Chai expects the company to return to the black by FY2025, as Malaysian glove-makers continue to close the price gap with competitors in Thailand and China.

    Speaking at Top Glove’s second-quarter earnings briefing on Wednesday (Mar 20), Dr Lim noted that Thai and Chinese glove-makers were increasing their glove prices. This has resulted in an overall increase in the average selling prices (ASPs) of the products.

    This, in turn, has allowed Top Glove to raise its own prices. It had attempted to do so in the past, but was unable to sustain the move due to its non-Malaysian peers’ low prices.

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