On a year-to-year basis, net profit jumped by a whopping 3,412% from RM30.17 million last year, as revenue jumped more than four times from RM385.5 million a year ago.
Solid dividend yields of 4%-9% forecast for the financial year ending June 30, 2021 (FY21F)-FY23F.
The US government recently said it plans to use the Defence Production Act (DPA) to produce 12 billion gloves per annum by the end of 2021 to reduce its reliance on imported PPE.
Currently, the spot market prices are lower than the contracted prices".
Supermax announced a quarterly net profit of RM1 billion for 3QFY21, 5.2% lower compared with RM1.06 billion recorded in 2QFY21.
Its quarter revenue fell 3% to RM1.94 billion in 3QFY21 compared with RM2 billion in 2QFY21.
The group currently exports 58% of production under its own brands via its own distribution centres and 40% through independent distributors; the remaining 2% is for original equipment manufacturer (OEM) production.
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