Thursday, August 26, 2010

Supermax 2Q earnings jump 77.9% to RM45.8m

KUALA LUMPUR: Supermax Corp Bhd posted RM45.85 million in earnings in the second quarter ended'' June 30, up 77.9%'' from RM25.78 million a year ago, underpinned by strong revenue growth, cost savings and productivity.

The glove maker said on Thursday, Aug 26 group revenue rose by 24.6% or RM46.34 million to RM234.82 million from RM188.48 million a year ago, on the back of strong global demand for rubber gloves as well as higher selling prices.

'However, despite a challenging operating environment, the group did well to record profitability growth over the corresponding quarter a year ago,' it said.

Supermax said profit before tax and profit after tax rose by 55.8% (RM17.5 million) and 77.9% (RM20.1 million) respectively. The improvement in profitability is attributed to the revenue growth as well as cost savings from higher efficiency and productivity from improved processes and refurbished lines.

It declared dividend of 2.5 sen a share.

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