MalaysiaNews

Top Glove’s Profit Escalates Due to Covid-19

0
Profit of Top Glove Corporation Bhd, the world’s largest maker of rubber gloves has reported to be at its highest net profit of RM1.29 billion in the forth quarter ended 31 August 2020.

Top Glove is a Malaysian rubber glove manufacturer which not only supply the rubber glove but also specialises in face masks, condoms, dental dams, and other products. This company create manufacturing facilities in lots of the countries such as Malaysia, Thailand, China, and Vietnam. In addition, it also has marketing offices in these countries as well as the United States, Germany, and Brazil.

Top Glove has since become the world’s largest manufacturer of gloves, commanding 26% of the world market share.

Top Glove Corporation Bhd’s profit has reported to be at its highest net profit of RM1.29 billion in the forth quarter ended 31 August 2020.

Meanwhile, Top Glove has also reported having an exceptional sales revenue of Rm3.11 billion, with a growth of 162% year-over-year. New highs were achieved due to the global surge in demand for gloves during this coronavirus pandemic.

As a result of the excellent performance done by Top Glove, a final dividend of 8.5 Sen per share was declared, bringing the total dividend in the year of 2020 payout to 11.8 Sen per share. It makes the total to be approximately RM961.2 million.

According to the analyst, glove demand is expected to grow 25% in the year 2021 and 15% during this post-pandemic.

“Top Glove will continue to expand its capacity to meet the global glove demand.” The executive chairman of Top Glove announced that.

More Information About:

Content source: 

https://www.freemalaysiatoday.com/category/nation/2020/09/17/top-glove-quarterly-profit-soars-on-virus-driven-demand/

https://www.topglove.com/chairman-messages/

Prepared by: Anne

 

 

 

Celine C

Samsung Galaxy Watch 3 vs Apple Watch 6

Previous article

Immigrants make trouble during Sabah Election

Next article

You may also like

Comments

Leave a Reply

More in Malaysia