Top Glove shares down on report of lower profit


PETALING JAYA: Shares of Top Glove Corp Bhd, the world's biggest rubber-glove maker, closed at RM5.19 yesterday with 315,600 shares traded after declining four sen to RM5.22 in the morning.

Its shares were affected after it reported a lower net profit of RM25.6mil for the third quarter ended May 31, 2011 last Friday, down 60% from RM64.5mil in the previous corresponding period, citing ongoing headwinds of high latex price and a weaker US dollar.

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