Hartalega's 9-months profit below expectatiions

The company said in a filing with Bursa Malaysia that the higher net profit was also contributed by increased operating income, which arose from net foreign-exchange gains.

PETALING JAYA: Glovemaker Hartalega Holdings Bhd’s net profit in the first nine months ended Dec 31, 2018 (9M19) came in below consensus expectations, despite having increased by 13% year-on-year (y-o-y).

According to Kenanga Research, Hartalega’s net profit of RM364.8mil in the nine-month period was only 71% of the consensus’ full-year forecast.