KUALA LUMPUR: Comfort Gloves Bhd
said its near term financial prospects remained strong after the company posted its best ever quarterly performance.
The company told Bursa Malaysia today that shipping delays due to port congestions and slow container turnaround in the last quarter ended Jan 31, 2021 (Q4FY21) has resulted in higher than usual glove stockpile going into the first quarter of this year.
"The ripple effect of the shipping situation has caused higher inventory than usual and 25% of shipments in this quarter to be delivered to 1st Quarter of the financial year ended 2022 (1QYE22)," it said.
Despite the delays, Comfort Gloves continued to post another record quarterly profits, thanks to rising selling prices.
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