KUALA LUMPUR, March 17 — Analysts are lowering their earnings forecasts for Top Glove Corporation Bhd after the world’s biggest glove manufacturer reported lower-than-expected results for the second quarter ended February 28, 2023 .
The research house has raised its blended ASPs for FY2023-FY2025 from US$18.3-US$20 per 1,000 pieces to US$19.5-US$21.7 per 1,000 pieces. The research house also said with a net loss expected in FY2023, it did not anticipate a dividend payout in FY2023. “We now expect FY2023 net loss to expand to RM507 million , continuing into FY2024 with a RM154 million loss,” it said.
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