Top Glove net profit up 31% to RM103mil

  • Business
  • Saturday, 20 Oct 2007

KUALA LUMPUR: Top Glove Corp Bhd, the world’s largest rubber glove manufacturer, said its net profit for the year ended Aug 31 increased 31% to RM102.9mil from RM78.4mil the previous year. 

Its pre-tax profit rose to RM117.8mil from RM91.8mil as sales rose 24% to RM1.228bil from RM992.6mil. 

For the fourth quarter, its pre-tax profit was up 33% to RM30.4mil from RM22.9mil in the previous corresponding quarter although revenue increased marginally to RM307.7mil from RM307.6mil. 

The higher sales and profit for the full year were in line with the group’s continuous expansion in production capacity, better quality control, improvement in its cost efficiency and marketing strategy, said chairman Tan Sri Dr Lim Wee-Chai. 

He said overall, the group was confident of continued growth and securing better results in the current financial year with its aggressive marketing strategies, increased production and efficiency. 

Top Glove currently has 18 factories with the capacity to produce 28 billion gloves annually. – Bernama 

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