Malaysia's Top Glove Books 26.9 PCT Jump in 9-MTH Pre-Tax Profit

KUALA LUMPUR, July 5 Asia Pulse - Top Glove Corporation Berhad (KLSE:7113) has booked nine-month pre-tax profit of RM87.391 million (US$25.4 million), up 26.9 per cent year-on-year following continuous efforts to expand production capacity and to achieve better quality control.

Revenue for the nine months ended 31 May 2007 rose 34.5 per cent to RM921.215 million from RM685.024 million previously.

"The significant achievement in higher sales and profit is in line with the group's continuous expansion in production capacity, better quality control, improvement in its cost efficiency, and marketing strategy," the world's top rubber glove maker said in a filing to Bursa Malaysia on July 4.

For the third quarter, it posted a 19.8 per cent jump in pre-tax profit to RM29.469 million from RM24.600 million previously while revenue climbed 21.7 per cent to RM301.563 million from RM247.830 million.

It said the group has a positive outlook towards continuous growth and in securing better results in the forthcoming quarter for the financial year ending 31 August 2007 in terms of sales revenue and profitability.

This will be achieved through its on-going efforts in implementing aggressive marketing strategies, increase in production capacity to achieve better economies of scale, as well as further improvements in quality, cost control and efficiency.

Top Glove said its ongoing efforts are expected to enhance the average compounded annual growth rates for revenue of approximately 30 per cent to 40 per cent per annum registered for the past 10 years.

With the completion of the subscription of new Medi-Flex Limited shares in 16 March 2007, the group currently has 18 factories and employs about 8,000 employees.

Top Glove has installed 320 production lines with capacity of 28 billion pieces of gloves per annum.

It has more than 760 customers and exports to more than 180 countries worldwide.

ASIA PULSE

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