Top Glove continues to show strong performance when it recorded a net profit of RM30.28 million for the second quarter of the financial year 2025. This marks a significant turnaround from the RM 51.2 million loss recorded in the same period last year.
This increase is in line with a 61% jump in revenue to RM 883.65 million, driven by increasingly stable demand and the benefits gained from the US import tax on Chinese gloves.
In the first six months of this financial year, Top Glove managed to collect a profit of RM 35.76 million with total income reaching RM 1.77 billion. The factory utilization rate also showed an increase, enabling the company to meet more demand in the global market.
Anticipating continued growth, Top Glove is confident that orders will continue to increase, especially with changes in international trade flows. This situation will not only help the company increase selling prices, but also strengthen its position in the industry.
However, challenges remain, especially in the European market, where competitors from China offer lower prices. In order to ensure its competitiveness remains high, Top Glove continues to focus on cost control and product quality improvement.
Managing Director of Top Glove, Lim Cheong Guan stated that the company's improved performance highlights the effectiveness of its quality and cost-efficiency strategies, strengthening its competitive edge amid market changes.
“We are pleased to continue delivering an improved performance with strengthened profitability,” he added.
In terms of financial strategy, Top Glove issued a sukuk worth RM800 million on 20 February 2025 to repay its debt of RM1.18 billion. This move received positive feedback from investors, as it helped the company reduce its financing costs and ensure long-term financial stability.
Top Glove shares today closed at RM0.84 down 4% but have increased 10.53% over the past year.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
