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This article first appeared in The Edge Financial Daily on February 13, 2019

KUALA LUMPUR: Supermax Corp Bhd’s net profit rose 6.2% to RM38.14 million for the second financial quarter ended Dec 31, 2018 (2QFY19) from RM35.9 million a year ago, on higher sales of its natural rubber and nitrile rubber gloves.

This resulted in higher earnings per share of 5.82 sen for 2QFY19 compared with RM5.42 sen for 2QFY18.

Quarterly revenue also increased 14.6% to RM385.1 million from RM335.91 million a year ago, thanks to the commissioning of the new replacement lines at its Perak plant and full quarter contribution from plants No. 10 and 11.

The group also declared an interim dividend of 1.5 sen for the financial year ending June 30, 2019 (FY19), payable on April 18.

For the cumulative six months (1HFY19), the group’s net profit rose 16.1% to RM74.08 million from RM63.8 million a year ago, while revenue grew 16.1% to RM752.15 million versus RM647.94 million in 1HFY18.

On prospects, Supermax is positive for both its glove and contact lens divisions.

“Global demand continues to grow at a rate of 8% to 10% per year. These positive factors continue to augur well for the group and the industry as a whole,” it said, adding that construction works to build its 12th plant have commenced.

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