TOP GLOVE 9-month profit up 85pc

Top Glove Corp Bhd's pre-tax profit for nine months ended May 31, 2010 rose by 85 per cent to RM263.9 million from RM142.5 million in the same period of 2009.

Revenue rose by 39 per cent to RM1.54 billion from RM1.10 billion in the same period last year, it said in a statement here today.

Top Glove said the strong profit growth momentum was due to the increase in demand for gloves, especially from the emerging markets.

"The company also benefited from cost-saving measures implemented at all factories, improvements in product quality, productivity, as well as aggressive marketing strategies to maintain its world number one market position," it said.
The company said it was optimistic of its outlook despite the increase in raw material costs and the weakening of US dollar.

"With a large customer base in over 180 countries, a diversified range of good quality products and a dedicated team, the group is confident of continuous growth and a profitable performance for financial year ended Aug 31, 2010," it said. -- Bernama