Top Glove swings back to black with RM5.5 million Q1 net profit
More US orders ahead of 50% tariff on glove imports from China contribute to higher sales volume
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GLOVE manufacturer Top Glove posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing its net loss of RM57.7 million in the previous corresponding period.
This translates to an earnings per share of 0.07 sen compared with the previous year’s loss of 0.72 sen per share.
On Friday (Dec 20), Top Glove said that the improvement in its bottom line came amid higher sales volume and healthier margins from continual glove-replenishment activity.
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