Glove makers continue to face earnings pressure

Apex Research said the oversupply situation facing the glove industry is expected to continue into the calendar year 2023.

PETALING JAYA: Hartalega Holdings Bhd’s results, which slipped into the red in the third financial quarter ended Dec 31, 2022 (3Q23), indicate that glove makers will continue to face headwinds in the post-pandemic era.

In 3Q23, Hartalega posted a net loss of RM31.9mil compared with net profits of RM28.3mil in the previous quarter and RM259.6mil a year ago.