The glove maker said its balance sheet remains healthy with a current ratio of 1.04 times and a cash and cash equivalent position of RM188.7mil.
PETALING JAYA: An increase in production cost and lower average selling prices saw Supermax Corp Bhd
’s net profit for the first quarter ended Sept 30,2019 (Q1’20) falling to RM24.74mil compared with RM35.94mil in the same period a year ago.
Revenue increased marginally to RM369.9mil from RM367mil posted a year ago. However, on quarter to quarter basis, net profit rose 78.2% as a result of the sudden spike in rubber latex price in the previous quarter.
In a statement, the glove maker said its balance sheet remains healthy with a current ratio of 1.04 times and a cash and cash equivalent position of RM188.7mil.
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