The decline is also attributable to the high base in the same period the year before, when the pandemic was at its peak. At the time, demand and average selling prices (ASPs) for gloves stood at all-time highs, with lower operating costs.
Top Glove has reported earnings of RM15.3 million ($4.8 million) for the 3QFY2022 ended May 31, 99.2% lower than earnings of RM2.04 billion in the corresponding period the year before.
The lower figure comes as the world transitions from the Covid-19 pandemic to living with it as an endemic.
