11 June 2020 / 12:06
KUALA LUMPUR: Top Glove Corp Bhd posted record-breaking earnings of RM347.9mil in the third quarter ended May 31, 2020, on the back of its highest-ever quarterly revenue of RM1.69bil.
The group declared an interim dividend of 10 sen per share as compared to 3.5 sen in the same quarter last year.
In a statement issued today the glove maker said the 3Q earnings was more than three times the earnings of RM74.67mil in the previous corresponding quarter, underpinned by unprecedented sales during the Covid-19 pandemic.
Sales volume rose 25% year-on-year with monthly sales orders shooting up 180%, resulting in lead times of about 400 days as compared to 40 days previously.
The group's subsidiary Aspion also made a higher contribution as sales revenue jumped 48% to RM202.3mil while pre-tax profit grew four times from the immediate preceding quarter.
According to Top Glove, additional capacity that came onstream in the quarter helped it meet demand growth while there were upward revisions in average selling prices.
The Star