Malaysia's Top Glove quarterly earnings plunge 48% on slower sales

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 66%

ประเทศไทย ข่าว ข่าว

ประเทศไทย ข่าวล่าสุด,ประเทศไทย หัวข้อข่าว

KUALA LUMPUR: Malaysia\u0027s Top Glove Corp Bhd posted on Friday (Sep 17) a 48 per cent drop in its fourth-quarter earnings as the steady rollout of vaccines worldwide pulled down the demand for gloves. The world\u0027s largest medical glove maker recorded a net profit of 607.9 million ringgit (US$145.88 million) d

KUALA LUMPUR: Malaysia's Top Glove Corp Bhd posted on Friday a 48 per cent drop in its fourth-quarter earnings as the steady rollout of vaccines worldwide pulled down the demand for gloves.

The world's largest medical glove maker recorded a net profit of 607.9 million ringgit during June-August, compared with 1.17 billion ringgit a year ago, lagging behind the 8.69 billion ringgit estimate by analysts in a Refinitiv poll." results were softer on the back of normalising demand following mass vaccine rollout, leading to lower sales volume and , which were not matched by a corresponding reduction in raw material prices," the manufacturer said in a statement.

A previous ban on imports to the United States also continued to hurt sales during the period. But the year-long ban, imposed on Top Glove for alleged forced labour abuses, was lifted last week. Top Glove had taken a hit to reputation from the ban, which came at a time when it was making record profits as the COVID-19 pandemic boosted demand for its gloves.

The company said on Friday that the ban removal is expected to boost sales from its Malaysia operations to the United States, which accounts for 15 per cent of the group total sales, but sees a challenging and competitive business environment.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

 /  🏆 6. in TH

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว