News Formal

RHB Investment projects Top Glove's 2021 earnings at RM9.46b | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 86%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

KUALA LUMPUR, Sept 18 — Top Glove Corporation Bhd sees its earnings forecast for 2021 and 2022 being increased 156 per cent and 84 per cent to RM9.46 billion and RM7.26 billion, respectively, assuming that gloves would fetch the average selling price (ASP) of US$49 to US$61 (RM202-252) per 1,000...

A worker at a production line in Top Glove factory in Shah Alam August 26, 2020. — Reuters pic

“We believe that the long-term ASP should be at the breakeven level at which inefficient new entrants should be operating. We expect earnings to see a significant jump in FY 2021 but decline in FY 2022 and FY 2023. Earnings growth should resume from FY 2024 due to volume growth with flat ASP,” he said in a research note today.

In making the announcement yesterday, Top Glove said FY2020’s financial results were “an unsurpassed performance in a year like no other, with more upside in glove demand expected,” adding that the group is also looking forward to fresh highs in FY2021. The discount between natural rubber gloves and nitrile gloves are expected to narrow going forward should more customers choose to buy natural rubber gloves.

It said high cash level bodes well for expansion plan and brings down financial costs. The company has utilised the deposits from orders to fully pay off its syndicated loans amounting to RM654 million. It has also converted 87 per cent of its convertible bonds of RM710 million to ordinary shares.

 

コメントありがとうございます。コメントは審査後に公開されます。
このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 1. in JP

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Top Glove posts record revenue and earnings for FY20, plans RM8b capex for FY21-26PETALING JAYA: Top Glove Corp Bhd posted a record financial performance for its financial year ended Aug 31, 2020 (FY20) and has earmarked RM8 billion...
ソース: theSundaily - 🏆 25. / 51 続きを読む »

Top Glove slides to RM8 despite strong earnings, dividendKUALA LUMPUR: Shares of Top Glove Bhd came under selling pressure late Thursday, falling to a low of RM8 despite its strong set of earnings, firm outlook and dividend as investors took profit.
ソース: staronline - 🏆 4. / 75 続きを読む »