Top Glove banks on product line diversity as glove sales continue rising

Singapore

TOP Glove Corporation is advising some of its customers to switch to latex gloves from nitrile gloves as competition intensifies and the industry battles what may become a global shortage for high quality non-latex gloves.

For the fourth quarter of its fiscal year ended August, Top Glove reported net profit of RM1.29 billion (S$423.8 million). This was over 17 times higher than its net profit of RM74 million in the previous fiscal year. Its FY20 net profit was RM1.87 billion, up from RM365 million in FY19. The company also booked its "highest ever" quarterly revenue of RM3.11 billion, up from RM1.19 billion last year.