Top Glove's Q1 net profit tumbles 92.1% to RM185.7m; executives say industry a case of 'survival of the fittest'
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GLOVEMAKER Top Glove Corporation BVA posted a net profit of RM185.7 million (S$60.1 million) for the first quarter of fiscal year 2022 ended November, down from earnings of RM2.4 billion in the corresponding quarter last year.
This brought the group's earnings per share for the quarter to 2.32 sen, down from 29.02 sen in the year-ago period, Top Glove said in a bourse filing on Friday afternoon.
Revenue for the period under review fell 66.7 per cent year on year to RM1.6 billion from RM4.8 billion.
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