Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 7): Shares in Hartalega Holdings Bhd, the world's largest nitrile glove producer, dropped 2.18% in early trade this morning after its net profit fell 25% to RM94.06 million in the first financial quarter ended June 30, 2019 (1QFY20), from RM124.87 million a year ago, on lower sales volume and higher costs.

At 9.08am, Hartalega fell 11 sen to RM4.94 for a market capitalisation of RM16.55 billion.

This resulted in a lower earnings per share of 2.81 sen for 1QFY20, compared with 3.77 sen for 1QFY19.

Quarterly revenue also fell 9% to RM640.1 million, from RM706.35 million a year ago.

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