Top Glove Q3 profit falls 36.5% on higher latex cost, stiff competition
Ng Ren Jye
Singapore
RUBBER glove manufacturer Top Glove's net profit for the third quarter to May 31 tumbled 36.5 per cent to RM74.7 million (S$24.5 million) from RM117.6 million for the year-ago period.
Top Glove attributed the sharp drop in net profit to a 22 per cent increase in natural rubber latex prices from the preceding quarter, and intense competition.
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