By Reuters Staff
(Corrects to four consecutive quarters, not three, in third paragraph)
KUALA LUMPUR, March 9 (Reuters) - Malaysia’s Top Glove Corp Bhd posted a record profit in the second quarter of the financial year, as continued demand for gloves globally boosted sales, the company said on Tuesday.
Profits soared to 2.87 billion ringgit ($695.93 million) in December-February from 115.7 million ringgit during the same period a year ago.
The world’s largest medical gloves manufacturer has reported record profits for four consecutive quarters, benefiting from high demand for rubber gloves during the COVID-19 pandemic.
The firm also posted record revenue of 5.37 billion ringgit in the same period, up 336% from a year ago. ($1 = 4.1240 ringgit) (Reporting by Liz Lee; Editing by Ana Nicolaci da Costa)
Tuesday, 09 Mar 2021 02:08 PM MYT
A worker at a production line in Top Glove factory in Shah Alam August 26, 2020. Reuters pic
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KUALA LUMPUR, March 9 Malaysia’s Top Glove Corp Bhd posted a record profit for the fourth consecutive quarter in the December-February period as continued demand for gloves globally boosted sales, the company said on Tuesday.
Net profit soared 2,380 per cent to RM2.87 billion in the second quarter of the financial year from RM115.7 million a year ago, it said.
The world’s largest medical gloves manufacturer also posted record revenue of RM5.37 billion in the second quarter, up 336 per cent from a year ago.
CORRECTED-Malaysia s Top Glove posts record profit in Q2 reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
HONG KONG/SINGAPORE/KUALA LUMPUR: Malaysia's Top Glove Corp Bhd is betting that pandemic-induced sales can provide enough fuel for its $1.9 billion Hong Kong listing to break through the headwind of U.S. sanctions and the prospect of slower growth as vaccinations become widespread.
Top Glove bets on pandemic boom to propel ambitious US$1 9 bln HK listing theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.