Malaysia.- World’s Largest Disposable Glove Manufacturer Achieves Record Quarterly Profit

MADRID, 9 Dic. (EUROPA PRESS) –

The world’s largest manufacturer of disposable gloves, the Malaysian company Top Glove, posted a record net attributable profit of 2.376 billion ringgits (482 million euros) between the months of September and November, corresponding to the first quarter of its fiscal year, which It represents multiplying by more than twenty its profit of 111.4 million ringgits (23 million euros) in the same period of the previous year.

As reported by the company, quarterly turnover amounted to 4,759 million ringgits (965 million euros), which represents an improvement of 294% compared to the same quarter of the previous year, while the gross operating result (Ebitda) increased by 1,502%, to 3,156 million ringgits (640 million euros).

The Malaysian manufacturer attributed the increase in sales to strong demand for gloves in emerging and developing markets, due to the ongoing global pandemic. Likewise, it explained its greater benefits due to higher production and billing, as well as the increase in production efficiency and higher sales prices for its products.

In this sense, the company has incorporated a special dividend of 6% to the quarterly dividend, raising the total payment to 16.5 sen per share, thus exceeding in the first quarter of its financial year 2021 the annual remuneration distributed last year.

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