KUALA LUMPUR: Glovemaker Supermax Corp Bhd
said the slowdown faced by the industry earlier this year is over, as the company posted another quarter of steady growth.
Net profit in third quarter ended March 31 improved to RM34.6mil compared with RM33.4mil made a year ago.
Revenue climbed 10.4% to RM361.2mil, the company said in a filing with Bursa Malaysia today.
"A slowdown in demand earlier in the year had raised concerns of an over-supply situation. However, the slowdown has not sustained as demand is again on the rise," it said.
On a year-to-year basis, Supermax said, global demand for gloves continues to grow at a rate of 8% and 10%.
"These positive factors continue to augur well for the company and the industry as a whole," it said.
The Supermax group, one of the top four glovemakers in the country, has eleven factories manufacturing various types of natural rubber and nitrile latex gloves.
It is also Malaysia’s very first home-grown contact lens manufacturing company.
"Construction of the group's 12th plant continues to progress steadily and once completed and the production lines commissioned, the new capacity will provide a significant boost to the group's total production capacity and lift both top-line and bottom-line performance," it said.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
