Supermax posts net profit of RM26m in Q2


PETALING JAYA: Supermax Corp Bhd’s net profit for its second quarter ended June 30 surged 90.6% to RM25.78mil from RM13.53mil in the previous corresponding period due to higher contribution from the wholly owned distribution centres of its associate companies.

The improved profits were also driven by “cost savings from the management’s concerted efforts to enhance productivity and operation efficiency,” the company said in a statement yesterday.

Revenue, meanwhile, dipped 2.5% to RM188.49mil from RM193.29mil, which Supermax attributed to “a variation of the product mix of gloves sold to capitalise on a higher margin market.”

Earnings per share were 9.72 sen against 5.1 sen previously.

Despite the current economic challenges, Supermax said it was optimistic that the rubber glove industry would remain positive and resilient.

“Demand has been boosted by the ongoing A (H1N1) flu pandemic and there is also continuously growing demand from the healthcare and hygiene sectors,” it said.

Supermax said the lower latex prices and favourable exchange rate would also “contribute healthily” to the company.

“The growing demand for rubber gloves is continuously being tapped by the group’s eight wholly-owned manufacturing plants and its wide global network of 750 distributors in 145 countries and five international distribution centres.

“This augurs well for the group in terms of business stability and sustainability in the long term,” Supermax said.

  SUPERMX :  [Stock Watch]  [News]

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Top Glove predicts 3% hit on FY21 sales due to production halt �
Airlines set to lose US$157bil amid worsening slump - IATA
AirAsia looks beyond losses to travel return
CPO December contract closes lower at RM3,448
My EG posts net profit of RM70.74m in 3Q
Leong Hup International's 3Q results up on-quarter
Inari sees strong demand for 5G RF components as Q1 net profit soars
PBA 3Q net profit jumps nearly 83% to RM11.3m
Majuperak returns to profit after three consecutive loss-making quarters
UEM Sunrise posts RM28.9mil loss in Q3�

Stories You'll Enjoy