Careplus posts RM105mil profit in Q2, pandemic curbs cloud outlook

KUALA LUMPUR: Glove maker Careplus Group Bhd posted a net profit of RM105mil in the second quarter, but warned that Covid-19 restrictions will have a major impact on its performance in the remaining half of 2021.

"Due to the enhanced movement control order (EMCO) and uncertainty on MCO lifting, couple with high infection daily cases, impact to the Group for the next half year performance will be big and cannot be quantified as yet," it said in a filing today.

Careplus reported sales of RM249mil in the three-month ended June 30. The company has declared an interim dividend payout of two sen a share.

"We are now running 36 lines with an annual capacity of 6.18 billion pieces of gloves," it said.

"Due to the enhanced movement control order (EMCO) and recent factories shut down, installation of nine lines was delayed to the end of 2021, with another two lines to be installed by early 2022," it added.

The company said another eight lines (new factory 5) are in the planning stage to be completed by end 2022.

"Barring any unforeseen circumstances, the Group will have 55 production lines with an annual capacity of 10.06 billion pieces of medical and surgical gloves by end 2022," it said.

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