Supermax posts RM3.8bil net profit in FY21, but glove prices have fallen off a cliff

A healthcare worker in personal protective equipment with 'Fight Covid-19' written on his glove. Supermax on Thursday said glove prices have dropped substantially, with spot prices at much lower level compared with contracted prices.

KUALA LUMPUR: Glove maker Supermax Corp Bhd net profit slipped below RM1bil for the first in three quarters due to falling average selling prices (ASPs).

The company posted a net profit of RM959mil, or 36.9 sen a share on revenue of RM1.86bil in the three-month ended June 30.

For the full year, net profit was RM3.8bil, or RM1.47 sen a share. Supermax has declared a special dividend payout of 15 sen a share, the company said in a filing with Bursa Malaysia today.