Top Glove Saw Q3 Profits Decline 32% To RM34 Million
In 3QFY2025, the Group recorded Sales Revenue of RM830 million, a 6% decrease compared to the preceding second quarter (2QFY2025). PATAMI showed an improvement, rising by 17% quarter-on-quarter to RM35 million. However, on yoy basis, the group saw its net profit decline 32% compared to RM50 million achieved in the period before in 2024.
Raw material prices in 3QFY2025 experienced a downtrend quarter-on-quarter, with the average natural latex concentrate price decreasing by 9% and the average nitrile latex price declining by 4%.
Lim Cheong Guan, Managing Director of Top Glove, acknowledged the headwinds impacting the quarter. 'Our 3QFY2025 performance was impacted by pronounced headwinds, chiefly lower Average Selling Prices (ASPs), heightened competition, coupled with cost savings pass-through,' he remarked. 'However, it is encouraging that we have remained profitable while successfully delivering volume growth.'
Despite evolving tariff actions and trade dynamics that may limit near-term visibility, Top Glove said remains confident in the long-term prospects of the glove industry. The company believes the industry continues to be supported by robust fundamentals and heightened hygiene awareness post-pandemic. Related
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
10 hours ago
- Malaysian Reserve
CGS International maintains bullish view on Malakoff ahead of tenders
CGS International Securities Malaysia Sdn Bhd remains positive on Malakoff Corporation Bhd, citing its strong position to secure upcoming Energy Commission tenders amid rising power demand and the urgent need to ensure supply stability and reserve margins. The brokerage stated that its outlook is underpinned by Malakoff's established track record in thermal plant development and operations, supported by its ready-to-deploy plans, sites, and assets. 'We estimate the plant extensions could generate at least RM40 million in annual net profit from 2026,' it said in a research note. 'This will be further supported by the RM950 million mini-hydro project and the RM660 million waste-to-energy (WTE) plant, which we forecast could contribute a combined RM35 million in net profit annually.' CGS International said a potential win for a 1.4 gigawatt greenfield gas plant could add at least RM200 million in recurring annual net profit and RM1 billion in equity value, equivalent to 20 sen per share, based on its back-of-the-envelope calculations. Together, these projects offer strong earnings visibility, backed by long-term power purchase agreements (PPAs) and concessions. While Malakoff's share price has rebounded from its recent lows, the firm sees further upside potential, driven by a pipeline of unpriced assets, including the mini-hydro and WTE plants, its stake in E-Idaman, and potential PPA extensions for the GB3, Prai Power, and Segari plants. 'We also see Malakoff as a strong contender for new gas-fired plant contracts,' it said. On May 10, 2025, the Energy Commission called for proposals for new gas-fired generation capacity in Peninsular Malaysia through competitive bidding, comprising two categories: (1) an expansion of existing plants and (2) development of new plants. Malakoff has submitted bids to extend the PPAs for three of its gas plants, GB3 640 megawatts (MW), Prai Power (350 MW), and Segari (1,303 MW), through to 2029, and plans to participate in bids under Category 2. CGS International maintained its 'Add' recommendation on Malakoff with a target price of RM1.20 per share, based on a conservative assumption of just one joint venture win. — BERNAMA
Barnama
10 hours ago
- Barnama
CGS International Maintains Bullish View On Malakoff Ahead Of Tenders
REGION - CENTRAL > NEWS KUALA LUMPUR, July 25 (Bernama) -- CGS International Securities Malaysia Sdn Bhd remains positive on Malakoff Corporation Bhd, citing its strong position to secure upcoming Energy Commission tenders amid rising power demand and the urgent need to ensure supply stability and reserve margins. The brokerage stated that its outlook is underpinned by Malakoff's established track record in thermal plant development and operations, supported by its ready-to-deploy plans, sites, and assets. 'We estimate the plant extensions could generate at least RM40 million in annual net profit from 2026,' it said in a research note. bootstrap slideshow 'This will be further supported by the RM950 million mini-hydro project and the RM660 million waste-to-energy (WTE) plant, which we forecast could contribute a combined RM35 million in net profit annually.' CGS International said a potential win for a 1.4 gigawatt greenfield gas plant could add at least RM200 million in recurring annual net profit and RM1 billion in equity value, equivalent to 20 sen per share, based on its back-of-the-envelope calculations. Together, these projects offer strong earnings visibility, backed by long-term power purchase agreements (PPAs) and concessions. While Malakoff's share price has rebounded from its recent lows, the firm sees further upside potential, driven by a pipeline of unpriced assets, including the mini-hydro and WTE plants, its stake in E-Idaman, and potential PPA extensions for the GB3, Prai Power, and Segari plants. 'We also see Malakoff as a strong contender for new gas-fired plant contracts,' it said. On May 10, 2025, the Energy Commission called for proposals for new gas-fired generation capacity in Peninsular Malaysia through competitive bidding, comprising two categories: (1) an expansion of existing plants and (2) development of new plants.
Malay Mail
12 hours ago
- Malay Mail
‘Don't belittle RM100 aid, it means a lot to the poor,' says Ramanan
BUTTERWORTH, July 25 — The provision of additional cash assistance of RM100 to Malaysian citizens, aged 18 and above, through the Basic Rahmah Contribution (SARA) programme should not be politicised, but rather seen as a form of concern for the poor. Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri said downplaying the value of the RM100 assistance was like belittling the poor in this country because it had a great impact on the daily lives of the less fortunate. 'If he is a rich man, T20, he would indeed look down on RM100, but does he know how many people in this country are in the B40 group…how much RM100 is to them and for rich people, he doesn't understand whether RM100 is a big deal or not. 'Do they know how many kilogrammes of rice RM100 can buy, how many chickens it can buy? So, if the (government) initiative is good, we have to say it is good, if it is not good, we have to say it is not good, not to belittle it,' he told reporters after attending the PENN 2.0 Special Fund Financing Briefing and Presentation Ceremony here last night. Explaining further, Ramanan said all parties should show empathy and understand the reality of the lives of low-income groups, especially in challenging economic conditions. Anwar, who is also the Finance Minister, yesterday announced several major initiatives as a sign of appreciation from the MADANI Government to the people, including the one-off RM100 grant under the SARA programme, the delay in toll hikes for 10 highways, and the lower RON95 petrol price subsidy at RM1.99 per litre. Meanwhile, Ramanan also said the MADANI Government no longer relies on a single agency such as the Malaysian Indian Community Transformation Unit (MITRA) in addressing the issues of the Indian community, but has instead introduced various high-impact programmes including financing and entrepreneurship development. According to him, the government is now implementing a more comprehensive approach involving various agencies such as the National Entrepreneurial Group Economic Fund (TEKUN), Bank Rakyat, SME Bank and Amanah Ikhtiar Malaysia (AIM) specifically to empower Indians. '(It is) increasing the Prosperity Empowerment and A New Normal for Indian Women (PENN) fund from RM50 million to RM100 million, in addition to an additional RM50 million fund for the BRIEF-i programme, the Indian Community Entrepreneur Development Scheme (SPUMI) and introducing Vanigham Financing for Indian Entrepreneurs with financing of RM50 million,' he said. In total, he said that a total of RM417 million had been channelled by the government specifically to implement various initiatives to empower the Indian entrepreneurial community, as of this month. Earlier, a total of 22 people received total financing involving the PENN, SPUMI, SPUMI Goes Big and BRIEF-I programmes totalling RM932,000. — Bernama
