KUALA LUMPUR: Rubberex Corporation (M) Bhd’s net profit for its first quarter ended Mar 31, 2014 rose to RM2.89mil from RM172,000 a year ago due to better product mix and improved overall margins of its products.
The manufacturer of general purpose and industrial gloves’ revenue however, fell 2.1% to RM70.9mil from RM73mil a year ago.
Its earnings per share for the period stood at 1.27 sen from 0.08 sen the previous year, the group said in a Bursa Malaysia filing on Wednesday.
Rubberex said the overall improvement was significantly driven by the recovery of the vinyl disposable gloves division in China which did not fare well in 2013.
“Improvements in the group’s product mix and positive results from various cost savings measures as well as better operating efficiencies have also contributed to the overall improvement,” it said.Moving forward, the company said it is optimistic on its performance for the remainder of the year.