Top Glove Q3 profit slides 31% to RM34.7 million despite higher revenue

[SINGAPORE] Malaysian glove maker Top Glove on Thursday (Jun 26) posted a net profit of RM34.7 million (S$10.5 million) for its third quarter ended May, 31 per cent down from a profit of RM50.7 million in the previous corresponding period.

Earnings per share for the quarter stood at 0.43 sen, down from 0.63 sen previously.

Revenue for the period climbed 30 per cent to RM830.3 million from RM636.9 million in the year-ago period, driven by a 45 per cent rise in sales volume.

Shares of Top Glove ended Wednesday 2.2 per cent or S$0.005 lower at S$0.225, before the announcement.