KUALA LUMPUR: A volatile market and uncertain trade environment chipped away at Top Glove Corp Bhd
's earnings in the third quarter ended May 31, 2025, despite a jump in revenue on a year-on-year comparison.
"Our 3QFY2025 performance was impacted by pronounced headwinds, chiefly lower average selling prices, heightened competition, coupled with cost savings pass through.
"However, it is encouraging that we have remained profitable while successfully delivering volume growth," said managing director Lim Cheong Guan in a statement announcing the glovemaker's quarterly result.
According to the stock exchange filing, Top Glove posted a net profit of RM34.75mil, which was down from RM50.67mil in the year-ago quarter, attributed to increased competition and the weakening of the US$ against the ringgit.
Top Glove had also registered a higher gain from land disposals in the year-ago quarter, which was absent in the current quarter.
In line with the lower bottomline, earnings per share dipped to 0.43 sen from 0.63 sen previously.
Revenue, however, rose to RM830.25mil from RM636.88mil, driven by a 45% increase in sales volume.
For the cumulative nine-month period, the group's net profit was RM70.5mil, which compared favourably to a net loss of RM58.24mil in the year-ago period, while revenue rose to RM2.6bil from RM1.68bil in the comparative period.
“We believe the long-term outlook is still promising as gloves are an essential item across multiple sectors, which will drive sustained global demand.
"We are also committed to delivering value to our stakeholders, while staying true to our principles of responsible and sustainable growth. These will enable us to navigate a volatile landscape while capitalising on emerging opportunities," said Lim.
