Top Glove Q4 profit down 13% to RM80m on spike in latex prices
Company says it'll expand to meet rising global glove demand of 10% a year
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Singapore
TOP Glove's net profit tumbled 13.2 per cent to RM80.1 million (S$26.4 million) for its fourth quarter ended Aug 31 from RM92.3 million a year ago, the mainboard-listed Malaysia-based glove manufacturer said on Thursday.
This came amid a spike in natural rubber latex prices as well as greater competition in the natural rubber glove segment, which lowered the segment's profit contribution and sales volume.
