KUALA LUMPUR: Top Glove Corp Bhd reported net profit of RM45.06 million in the fourth quarter ended Aug 31, 2010, down 20.6% from RM56.81 million a year ago.
It said on Wednesday, Oct 6 that revenue was 27.5% higher at RM541.38 million from RM424.51 million a year ago. Earnings per share were 7.3 sen versus 9.39 sen. It declared dividend of nine sen per share compared with 7.5 sen.
It said the earnings showed a decline despite higher sales due to normalised demand and oversupply of capacity situation.
'This was further aggravated with persistently high latex prices and weakening of US dollar, which affected the group's revenue and profit margins. To date, latex price has increased by around 55% and US dollar has weakened against the ringgit by around 13% since beginning of the financial year 2010 (12 months ago),' it said.
For the financial year ended Aug 31, 201, net profit rose 45% to RM245.28 million from RM169.13 million. Revenue increased 35.9% to RM2.079 billion from RM1.529 billion.
It said on Wednesday, Oct 6 that revenue was 27.5% higher at RM541.38 million from RM424.51 million a year ago. Earnings per share were 7.3 sen versus 9.39 sen. It declared dividend of nine sen per share compared with 7.5 sen.
It said the earnings showed a decline despite higher sales due to normalised demand and oversupply of capacity situation.
'This was further aggravated with persistently high latex prices and weakening of US dollar, which affected the group's revenue and profit margins. To date, latex price has increased by around 55% and US dollar has weakened against the ringgit by around 13% since beginning of the financial year 2010 (12 months ago),' it said.
For the financial year ended Aug 31, 201, net profit rose 45% to RM245.28 million from RM169.13 million. Revenue increased 35.9% to RM2.079 billion from RM1.529 billion.
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