Top Glove's Q3 profit up 24.4% on better cost management

IMPROVEMENTS in its manufacturing process with the aim of managing costs gave a lift to the results of Top Glove in its third quarter.

Net profit jumped 24.4 per cent to 77.7 million ringgit (S$25.1 million) from the previous year, the group said in a Singapore Exchange filing on Friday.

For the three months ended May 31, revenue jumped 29.4 per cent to 869.6 million ringgit from the year before.

Earnings per share expanded to 6.2 sen from 4.99 sen in the year-ago period. Net asset value per share crept up to 1.52 ringgit as at May 31, from 1.46 ringgit a year ago. Dividend per share was flat at 6 sen.