Supermax Q1FY23 net profit plummets to RM5.71mil

KUALA LUMPUR: Supermax Corporation Bhd’s net profit for the first quarter ended Sept 30, 2022 (Q1FY2023) plummeted to RM5.71 million from RM638.52 million in the same preceding period as average selling prices (ASP) remained low in the face of intense competition.

The rubber glove maker, in a filing with Bursa Malaysia, reported that revenue shrank 86 per cent to RM247.97 million in Q1FY2023 from RM1.46 billion previously.