Friday 29 Mar 2024
By
main news image

PETALING JAYA (Nov 10): Multinational gloves producer Rubberex Corporation Bhd saw its net profit for the third quarter of financial year 2014 (3QFY14) skyrocket to RM3.03 million, against RM54,000 in the previous corresponding period last year.

The company has proposed a second interim dividend per share of two sen for 3QFY14.  

The company attributed the jump in profits to the recovery of vinyl disposable gloves division in China, better product mix and improved overall margins of our products.

“The increase was significantly driven by the recovery of the vinyl disposable gloves division in China, which did not fare well in the previous year,” the report stated.

“Improvements in the group’s product mix and positive results from various cost-savings measures, as well as better operating efficiencies, have also contributed to the overall improvement,” the report added.

Revenue however dipped by 17% to RM76.27 million in 3QFY14, compared to RM91.89 million in 3QFY13.

“The decrease was due to the group’s strategic move to focus the sales of its products to only premium customers and the higher end market segments,” the report stated.

For the nine-months ended Sept 30, the company’s net profit leaped to RM8.9 million this year, from RM459,000 in the previous corresponding period last year.

Its accumulative revenue however dropped 8.9% to RM221 million, compared to RM242.63 million in the corresponding period last year.

      Print
      Text Size
      Share