Meanwhile, the price of raw materials fell in tandem with ASPs. For instance, the price of nitrile latex fell significantly to around US$1.10/kg ($1.48/kg) in Feb 2022, from a peak of US$2.40/kg in Apr 2021.
Glove manufacturer UG Healthcare remains a counter on analysts’ watchlists, despite a 61.3% y-o-y drop in its earnings to $21.2 million in its 1HFY2022 ended Dec 31 2021.
The lower earnings follow a steady decline in the average selling prices (ASP) across all product segments which resulted in lower gross profit margins.
