This was mainly due to strong demand growth stemming from developed and emerging markets, where glove demand is rapidly on the rise.
Further contributing to demand was the disruption in vinyl glove supply following China’s strict enforcement against polluting industries, which benefited both natural rubber and nitrile glove sales.
In addition, the group says the coming onstream of new capacity, as well as continuous improvement initiatives in terms of automation, better production lines and cost-saving, were also instrumental in contributing to the strong performance.
As at end November, cash and cash equivalents stood at RM 162.1 million.
Looking ahead, Top Glove says it will continue to expand its operations to further its growth.
Shares of Top Glove closed 15 cents higher, or up 6.5%, at $2.45.
