Top Glove Q2 net profit dives 97% to RM87.5m, no dividend proposed
Add BT as a preferred source
THE best days appear to be over for the glove industry, and Top Glove Corporation BVA is one of the companies that will have to settle for "normalising" financial figures -- from "phenomenal highs to still healthy pre-pandemic levels", company executives said on Wednesday (Mar 9).
In a call with reporters and analysts to discuss the group's financial results, Top Glove's executive director Lim Cheong Guan stressed that the long term outlook for the glove industry remains promising, and companies like Top Glove are well-placed to deal with the correction in profits, as well as demand and average selling prices (ASPs) of gloves.
"Many other industries (are) still struggling to recover and climb their way up from a negative position," he said. "Challenging periods will come and go for any business, but the glove industry most certainly remains a promising one in the long-run."
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
As luxury retail goes big, can Singapore’s Orchard Road keep up?
Singapore releases Economic Strategy Review Final Report, with more detailed proposals
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
