Top Glove third quarter earnings rise to RM77.7mil

Expansion plans: A file picture showing latex gloves on an automated production line at a Top Glove Corp factory in Setia Alam. The company says expansion plans include the construction of three new manufacturing facilities in Klang, – Bloomberg

KUALA LUMPUR: Top Glove Corp Bhd’s net profit jumped 24.4% to RM77.7mil in the third quarter ended May 31 from RM62.45mil a year ago.

The glove manufacturer saw its revenue rose 29.3% to RM869.6mil year-on-year while pre-tax profit came in at RM91.5mil, a year-on-year improvement of 24.2% despite a challenging business environment characterised by sharp increases in raw material prices, which affected sales orders.