KUALA LUMPUR (Feb 12): 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 a 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 Plant 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 saw its net profit rise 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 and will further add to the group's production capacity when completed.

As for its contact lens business, Supermax said the group will continue to work on obtaining the necessary product licences and approvals; expanding its product range to include other types of lenses such as toric and colour lenses; and increasing market penetration for its products globally.

Supermax shares closed up 7 sen or 4.58% at RM1.60 today, with 13.77 million shares done, for a market capitalisation of RM2.1 billion. Over the past one year, the stock's share price has risen 47%.