Careplus to raise glove capacity as Q4 profits soar 

KUALA LUMPUR: Glove maker Careplus Group Bhd said is targeting to complete the installation of ten new production lines by June, boosting its total capacity by a third, as the company announced another strong quarterly growth.

Careplus on Friday posted a net profit of RM42.3mil in the fourth quarter ended Dec 31.

For the full year, the company made RM122mil compared with a loss of RM5mil in 2019.

The improved results were given by the rising prices of gloves.

Careplus currently operates 30 production lines with a total capacity of 4.86 billion pieces of gloves a year.

"By mid of June 2021, we shall complete installation of 10 lines and another 8 lines by the end of 2021, with an addition of 9 lines in planning stage to be completed by end of 2022," it said.

"As a result, the Group will have 57 production lines with an annual capacity of 10.5 billion pieces of medical and surgical gloves by end 2022," it added.

"The Group has also put in place to increase surgical gloves packing facilities from 72 million pairs to 288 million pairs annually by end 2021."

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