The glove maker said global oversupply pressures have eased.
PETALING JAYA: Hartalega Holdings Bhd
is reiterating optimism over demand recovery in the glove industry, as well as the likelihood of local manufacturers benefiting from US tariffs on Chinese glove imports.
Coming into 2025, the glove maker said global oversupply pressures have eased amid capacity optimisation by key domestic producers and the exit of newer players.
For the third quarter of its 2025 financial year, Hartalega reported a net profit of RM19.51mil, which was down from RM22.38mil in the year-ago quarter, owing to higher operating expenses and a higher tax on profit. Earnings per share retreated to 0.57 sen from 0.66 sen previously.
This was despite revenue coming in at RM738.19mil, a jump up from RM415.64mil in the comparative quarter, as sales volume surged 73% year-on-year.
Hartalega, the top loser on Bursa Malaysia yesterday, tumbled 23.24%, or 79 sen, to RM2.61 with 93.79 million shares traded.
