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Top Glove's 2QFY2022 earnings down 96.9% to $28.5 mil on normalising ASPs

Felicia Tan
Felicia Tan • 4 min read
Top Glove's 2QFY2022 earnings down 96.9% to $28.5 mil on normalising ASPs
"This is to be expected as the pandemic recedes and it is part of the business cycle,": Top Glove's managing director, Dato Lee
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Top Glove Corporation has reported earnings of RM87.5 million ($28.5 million) for the 2QFY2022 ended Feb 28, down 96.9% from earnings of RM2.87 billion in the corresponding year before.

Earnings per share (EPS) for the quarter fell 97.0% y-o-y to 1.09 sen.

Revenue for the 2QFY2022 plunged 73.0% y-o-y to RM1.45 billion on the back of average selling prices (ASPs), which are normalising closer to pre-pandemic levels.

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