KUALA LUMPUR (June 18): Top Glove Corp Bhd’s (KL:TOPGLOV) net profit more than doubled for the third quarter ended May 31, 2026 (3QFY2026), due to higher sales volume, selling price adjustments and cost efficiencies.
Quarterly net profit surged 133.1% to RM80.99 million from RM34.75 million a year earlier, while revenue increased 31.9% to RM1.10 billion from RM830.25 million, according to a filing with Bursa Malaysia.
Earnings per share rose to 1.01 sen from 0.43 sen. The group did not declare a dividend for the quarter.
Top Glove attributed the improved performance to prudent raw material management, particularly efforts to secure a stable supply of nitrile latex amid recent disruptions, which allowed it to maintain production and fulfil customer orders.
The glove maker also adjusted its average selling prices in response to higher raw material costs, while improvements in product quality, cost efficiency and higher utilisation rates supported better margins.
For the first nine months ended May 31, 2026 (9MFY2026), net profit more than doubled to RM150.33 million from RM70.50 million a year earlier, while revenue rose 14.8% to RM2.98 billion from RM2.60 billion.
Sales volume during the period increased 34% during the nine-month period.
On its outlook, Top Glove said nitrile latex availability had stabilised as at June, although the operating environment remained dynamic.
The group said its diversified supplier network across several countries strengthened sourcing resilience and helped ensure continuity of supply. It is also working closely with customers to manage raw material availability and maintain glove deliveries.
Top Glove’s factories can switch production between nitrile and natural rubber gloves, allowing the group to respond to changes in raw material supply and market conditions. Ongoing improvements in product quality and cost efficiency would also support its operational resilience, it said.
“While the environment ahead may be uncertain, we continue to focus on core priorities within our control: glove quality, cost efficiency and strong execution,” joint managing director Ng Yong Lin said.
He added that demand remains resilient as gloves are essential across the healthcare, industrial and food-related sectors.
Joint managing director Lim Jin Feng said: "The recent developments in the Middle East have also provided a valuable learning experience in managing geopolitical challenges and mitigating supply disruptions. This strengthens our preparedness and positions us to respond more effectively to such challenges in the future."
Top Glove has 51 factories and 784 production lines, with an annual glove production capacity of 95 billion pieces. It serves more than 2,000 customers and exports to over 195 countries.