KUALA LUMPUR (March 18): Top Glove Corporation Bhd's (KL:TOPGLOV) earnings were slightly up in its recently-ended quarter as cost control and higher plant utilisation offset drags from weaker exports receipts.
Net profit at the world's largest natural rubber glove maker was RM30.76 million for its second quarter ended Feb 28, 2026 (2QFY2026), an increase of 1.5% when compared to the same quarter a year earlier, according to an exchange filing.
Excluding currency effects, profits would have nearly doubled as revenue for the quarter rose 14% year-on-year to RM1.01 billion.
“The group is well positioned to capture the increasing glove demand; while high utilisation rates will enhance competitiveness,” Top Glove said. “As a matter of course, Top Glove also will continue to calibrate its hedging practices in line with forex movements.”
However, the company flagged global crude oil supply disruption, which affects the availability of nitrile latex, a key raw material for nitrile gloves.
Top Glove said it is working with suppliers to facilitate stable nitrile latex supply while encouraging the purchase of natural rubber gloves where appropriate. Top Glove also touted its ability to switch production lines between nitrile and natural rubber gloves in managing raw material volatility.
Top Glove currently operates 51 factories globally, comprising 45 in Malaysia, five in Thailand and one in Vietnam, alongside supporting facilities such as latex concentrate plants, chemical factories, a gamma sterilisation facility and packaging material plants.
For the first half of the financial year, net profit was up nearly 94% to RM69.34 million from the previous year's corresponding period. Revenue for the period was up 6.7% year-on-year to RM1.89 billion.
No dividend were declared for the first six months.