Glove maker to contend with ASP normalisation

PETALING JAYA: Although Supermax Corp Bhd’s recent earnings came in slightly above expectations, further normalisation of average selling prices (ASPs) for gloves will continue to weigh on profits in the coming quarters.

In the first quarter ended Sept 30, 2021, the glove maker’s net profit declined by 19.1% to RM638.52mil year-on-year (y-o-y) although revenue rose 7.6% to RM1.46bil.