KUALA LUMPUR (Aug 20): Kossan Rubber Industries Bhd’s (KL:KOSSAN) net profit for the second quarter doubled from a year earlier underpinned by higher average selling prices (ASPs) and volumes as well as lower costs.

The glove manufacturer's net profit for the three months ended June 30, 2026 (2QFY2026) surged to RM64.47 million — the highest quarterly net profit since FY2022 — from RM31.15 million a year ago.

Kossan recorded a net profit of RM90.1 million in 1QFY2022, and RM45.99 million in 2QFY2022.

Revenue for 2QFY2026 rose 48.8% to RM568.88 million from RM382.19 million, according to the glove maker in a bourse filing on Thursday.

Margins across its divisions improved. The glove and clean-room divisions improved on higher ASPs and lower production costs, while the technical rubber products division rose on higher-margin products.

No dividend was declared for the latest quarter.

For the cumulative six months, net profit was up 55.7% year-on-year to RM103.99 million, while revenue rose 19.5% to RM1.04 billion.

The glove industry continues to face an oversupply situation, though Kossan noted continued signs of gradual recovery supported by sustained demand from healthcare, industrial and specialised applications.

“Against this backdrop, the group will focus on strengthening operational efficiency and cost competitiveness through automation, digitalisation, disciplined cost management and productivity improvements,” it noted.

Shares of Kossan stood unchanged at RM1.13 at the noon break on Thursday, valuing the group at RM2.89 billion.