Strong earnings for Comfort Gloves but weaker on-quarter as prices weigh

Comfort Glove said its revenue grew by 154.7% to RM504.23mil from RM197.95mil a year ago.

KUALA LUMPUR: Comfort Gloves Bhd posted a strong set of financial results in the second quarter ended July 31, 2021 with net profit up 248% to RM148.82mil from RM42.79mil a year ago but the performance was weaker on-quarter.

It said in a filing with Bursa Malaysia on Tuesday, it said the higher profit after tax was mainly due to higher sales revenue and better economies of scale that had improved the margin from 22% to 30%, partially offset by the increase in latex price.