Supermax 3Q profit takes a hit due to WRO, lower selling prices

KUALA LUMPUR: Supermax Corporation Bhd’s net profit took a dive to RM13.01 million in the third quarter (Q3) ending March 31, 2022, from RM1.01 billion a year earlier as sales continued to be adversely impacted by the withhold release order (WRO) imposed by the United States coupled with the downtrend in selling prices and demand.

Group revenue fell by 79 per cent, or RM1.53 billion, to RM407.80 million from the previous year’s corresponding quarter, the glove maker said in a filing with Bursa Malaysia today.