by winston » Sun Dec 06, 2020 9:44 pm
vested
Top Glove the 'busiest' of them all
Top Glove, which commands a 26 per cent share of the global rubber glove market, with a production capacity of 80.2 billion pieces per annum saw its shares soared by more than 400 per cent.
Its share price enjoyed a meteoric rise of up to RM26.24 from RM1.55 on Jan 2, 2020. It conducted a share split on September 7, 2020, and the stock is now hovering around RM6.60.
It also recorded its best-ever quarterly net profit at RM1.29 billion in the fourth quarter ended August 31, 2020 (4QFY20), which is almost 18 times the RM74.17 million it posted in the same quarter last year.
Net profit for its financial year ended August 31, 2020 stood at RM1.86 billion, which was 417 per cent higher than last year. Revenue surged to RM7.23 billion from RM4.8 billion last year.
Besides Malaysia, Top Glove also has manufacturing facilities in Thailand, Vietnam and China. It exports to over 2,000 customers in 195 countries worldwide. The export value for rubber gloves has been growing by 9.4 per cent at 10 years compound annual growth rate amid rising demand.
Top Glove is also listed on Singapore’s stock market since 2016.
Source: Bernama
It's all about "how much you made when you were right" & "how little you lost when you were wrong"