Top Glove reports 51.4% rise in 3Q earnings to $39.7 mil on higher revenue

SINGAPORE (June 19): Rubber glove manufacturer Top Glove Corporation has announced a 51.4% increase in its earnings to RM117.6 million ($39.7 million) for the 3Q18 ended May, compared to RM77.7 million a year ago.

Revenue for the quarter hit a record high of RM1.10 billion in 3Q18, 26.6% higher than revenue of RM869.6 million in the previous year, on the back of increased glove demand.

The group saw strong demand growth particularly from Asia as well as Eastern Europe and Latin America. On a 9-month basis, demand growth from India, China and Vietnam have more than doubled.

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