[SINGAPORE] Top Glove returned back to the black with a net profit of RM30.3 million (S$9.1 million) for its second quarter of its financial year ended Feb 2025, reversing from a net loss of RM51.2 million in the year-ago period.
This translated into a basic earnings per share of 0.38 sen, as compared to a basic loss per share of 0.64 sen for Q2 of FY2024.
Its revenue for the quarter was RM883.7 million, up from RM 550.3 million previously.
On Thursday (Mar 20), the group attributed its improved performance to a sustained uptrend in glove orders on the back of recovering global demand, as well as trade diversions resulting from US tariffs on Chinese glove exports, which spurred continued growth in its sales revenue.
Although sales volume was softer, the glovemaker said it achieved good profit margins supported by cost pass through effects and because it was able to command better pricing in certain regions.
Shares of Top Glove ended Wednesday lower by S$0.01 or 3.5 per cent at S$0.275.
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