KUALA LUMPUR: Top Glove Corp Bhd reported its best ever quarterly revenue, but earnings growth was muted due to the high cost of buying surgical glove Aspion Sdn Bhd and aggressive factory expansion. Net profit in the first quarter ended Nov 30 rose 4% to RM110mil, as sales soared to RM1.26bil. Meanwhile, lower average raw material prices also boosted margins and its profitability, with Ebitda margins improving to 16.3% from 16.1% in 1QFY18. Top Glove has 40 factories and the capacity to produce 60.5 billion pieces a year. By the end of 2020, Top Glove is projected to have 796 production lines and a production capacity of 75.3 billion gloves per annum.

Source: The Star December 17, 2018 12:45 UTC