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Hartalega's 9-months profit below expectatiions

PETALING JAYA: Glovemaker Hartalega Holdings Bhd’s net profit in the first nine months ended Dec 31, 2018 (9M19) came in below consensus expectations, despite having increased by 13% year-on-year (y-o-y).

“Anecdotal evidence suggests that shorter delivery lead time does indicate that strong demand is tapering off and players ramping up production could result in further average selling price (ASP) pressure.  “From our channel checks, we gather that competition in the nitrile gloves segment has intensified, leading to pressures on the ASP,” it said in a note yesterday

Hartalega 9M net profit below forecast, CIMB Research says

KUALA LUMPUR: Hartalega Holdings Bhd’s net profit for the nine months ended Dec 31, 2018 of RM365mil came in below expectations, making up only 71% of CIMB Equities Research and 72% of Bloomberg consensus’ FY19 estimates.

Supermax posts higher earnings in Q2

PETALING JAYA: Glovemaker Supermax Corp Bhd has registered a net profit of RM38.14mil for its second quarter ended Dec 31, representing a 6% increase from the same quarter last year.

“Going forward, the group will continue to work on obtaining the necessary product licences and approvals, expand its product range to include other types of lenses such as toric and colour lenses, as well as increase market penetration for its products globally,” said Supermax

E&O stock price tumbles on cash call

PETALING JAYA: Eastern & Oriental Bhd (E&O) saw RM318.4mil erased from its market capitalisation as investors were unreceptive towards its cash call despite some analysts saying the move would put the group on a stronger footing.

“But the long-term prospects for E&O remain good, with the scheduled completion of the 253-acre Seri Tanjung Pinang Phase 2A (STP2A) by September 2019. Maintain as ‘buy’,” Affin Hwang said.

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