In a note today, CIMB analyst Walter Aw said rubber glove manuufacturer Top Glove could have posted a net profit of between RM65 million and RM70 million in the fourth quarter ended Aug 31, 2016 (4QFY16). We think that 4QFY16’s net profit will come in flattish qoq (quarter-on-quarter), in the region of RM65m-70m (-32% to -37% yoy (year-on-year). This would bring total FY16 net profit to RM360m-365m, falling short of our RM375m estimate. In FY15, Top Glove's 4QFY15 net profit rose to RM103.12 million, from RM46.32 million a year earlier. Full-year net profit was higher at RM280.15 million versus RM180.52 million.

Source: The Edge Markets October 06, 2016 04:41 UTC