Top Glove reports double profits in Q1

ERJ staff report (RD)

Klang, Malaysia - Top Glove Corp., a major manufacturer of rubber gloves, has reported profits of RM 86.6 million (Euro 17.3 million) in the three months ended 30 Nov 2009 (Q1 2010), a 100 percent increase on profits in the same period last year.

Revenue was up 22 percent to RM 472 million and net profit rose 93 percent to RM 66.5 million, a 16 Dec company statement said.

Top Glove employs 9100 staff in 19 factories spread across Malaysia, Thailand and China. The company will open a new factory in Feb 2009 in Klang, Malaysia, with 16 new glove production lines and is currently constructing another factory in Klang, also with 16 glove production lines, scheduled to be completed in July 2010, the company said. Top Glove produces 31.5 billion pcs per annum.

For more information follow the link below and download the Top Glove 1Q10 - Press Statement pdf file.

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Key financial information from Top Glove Corp