Malaysia's Top Glove returns to profitability in Sept.-Nov.

KUALA LUMPUR, Dec. 20 (Xinhua) -- Malaysia-based rubber glove maker Top Glove has returned to the black in the first quarter of fiscal year 2025 from September to November 2024, driven by strong sales.

The firm said in a bourse filing on Friday that it posted a net profit of 5.47 million ringgit (1.21 million U.S. dollars) in the first quarter, compared to a net loss of 57.71 million ringgit a year ago.

The firm's revenue for the quarter surged 79.53 percent year-on-year to 885.89 million ringgit.

In a separate statement, the group said its rebound was fueled by robust and continual order inflows, driving a higher utilization rate of 66 percent across operating factories while enhancing cost efficiencies.

The group said its outlook remains positive, with orders continuing to flow as the glove industry recovers steadily.

It said the group will proactively diversify risks across its countries of operations in Malaysia, Thailand and Vietnam to mitigate the geopolitical challenges, which continue to escalate and remain unpredictable. (1 ringgit equals 0.22 U.S. dollars)