Latest news with #KuanMunLeong
New Straits Times
06-05-2025
- Business
- New Straits Times
Hartalega FY25 net profit surges nearly six-fold to RM75mil
KUALA LUMPUR: Hartalega Holdings Bhd's net profit for the financial year ended March 31, 2025 (FY25) surged nearly six-fold to RM74.54 million from RM12.50 million a year earlier, driven by stronger sales volume. Revenue rose 40.76 per cent to RM2.59 billion, compared with RM1.84 billion a year earlier. "The significant increase of RM747 million or 41 per cent in revenue was mainly driven by a 40 per cent increase in sales volume," it said in a statement. For the fourth quarter (Q4) ended March 31, 2025, Hartalega recorded a net profit of RM14.48 million, slightly lower than the RM14.9 million posted a year earlier. Revenue for the quarter rose 15.3 per cent year-on-year to RM611.55 million, from RM530.34 million in the same quarter last year. Higher sales volume and stronger selling prices lifted revenue, but net profit was dragged down by increased non-operating expenses during the quarter. Hartalega chief executive officer Kuan Mun Leong said the group's full-year performance reflects encouraging signs of recovery for the sector. Nevertheless, he cautioned that the operating environment remains volatile, with the global rubber glove market still facing oversupply and ongoing pricing pressure. "In addition, US demand is expected to remain moderated in the near term following the earlier front-loading activities as well as the ongoing trade uncertainties. "However, despite the impact of escalating US-China trade tensions on the global trade landscape, this could also serve as a catalyst for Malaysian manufacturers to regain export market share in the US," he said. On the sector outlook, Kuan said the rubber glove industry's prospects remain positive. He said global demand has surpassed pre-pandemic levels and is expected to grow further, driven by rising healthcare needs, greater hygiene awareness and broader usage across medical and non-medical sectors.
The Star
06-05-2025
- Business
- The Star
Hartalega's net profit surges to RM74.54mil in FY25
KUALA LUMPUR: Hartalega Holdings Bhd 's performance in the financial year ended March 31, 2025 (FY25) - which registered a five-fold jump in bottomline - affirms encouraging signs of recovery for the glove sector. During the year, the glove maker posted a net profit of RM74.54mil, as compared to RM12.5mil in the previous year. It reported revenue of RM2.59bil, up from RM1.84bil in FY25. Earnings per share rose to 2.18 sen from 0.37 sen previously. In the fourth quarter of the year alone, Hartalega recorded a net profit of RM14.48mil, slightly lower than RM14.9mil in the year-ago quarter, on revenue of RM611.55mil, up from RM530.34mil in 4QFY24. The improved revenue was owing to higher sales volume and stronger average selling prices. However, the group said net profit was pulled lower by higher non-operating expenses recognised during the quarter under review. On outlook, CEO Kuan Mun Leong said the operating landscape remains volatile and competition in the global rubber glove market continues to be high with continued oversupply and pricing pressure. He also expects US demand to remain moderated over the near term due to earlier front-loading activities as well as the ongoing trade uncertainties. However, the escalating US-China tensions, while impacting the global trade landscape, could also serve as a catalayst for Malaysian manufacturers to regain export market share in the US, he added. 'Taking a long-term view, the rubber glove industry's prospects remain positive. "Global demand has already recovered beyond pre-pandemic levels and is set to grow further on the back of rising healthcare needs, heightened hygiene awareness and increasing usage across both medical and non-medical sectors," said Kuan in a statement.
