KUALA LUMPUR: Hartalega Holdings Bhd
's performance in the financial year ended March 31, 2025 (FY25) - which registered a five-fold jump in bottomline - affirms encouraging signs of recovery for the glove sector.
During the year, the glove maker posted a net profit of RM74.54mil, as compared to RM12.5mil in the previous year.
It reported revenue of RM2.59bil, up from RM1.84bil in FY25. Earnings per share rose to 2.18 sen from 0.37 sen previously.
In the fourth quarter of the year alone, Hartalega recorded a net profit of RM14.48mil, slightly lower than RM14.9mil in the year-ago quarter, on revenue of RM611.55mil, up from RM530.34mil in 4QFY24.
The improved revenue was owing to higher sales volume and stronger average selling prices. However, the group said net profit was pulled lower by higher non-operating expenses recognised during the quarter under review.
On outlook, CEO Kuan Mun Leong said the operating landscape remains volatile and competition in the global rubber glove market continues to be high with continued oversupply and pricing pressure.
He also expects US demand to remain moderated over the near term due to earlier front-loading activities as well as the ongoing trade uncertainties.
However, the escalating US-China tensions, while impacting the global trade landscape, could also serve as a catalayst for Malaysian manufacturers to regain export market share in the US, he added.
“Taking a long-term view, the rubber glove industry’s prospects remain positive.
"Global demand has already recovered beyond pre-pandemic levels and is set to grow further on the back of rising healthcare needs, heightened hygiene awareness and increasing usage across both medical and non-medical sectors," said Kuan in a statement.
