Top Glove's 2Q net profit slides on normalising ASPs

KUALA LUMPUR: Top Glove Corp Bhd posted a net profit of RM87.55mil in the second quarter ended Feb 28, 2022, as compared to RM2.87bil a year earlier as average selling prices (ASP) moved closer to pre-pandemic levels.

"Raw material prices were generally on a downward trend, decreasing at a slower pace than ASPs, which resulted in margin compression.