Top Glove Q2 net profit dives 97% to RM87.5m, no dividend proposed
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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."
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