Supermax’s net profit drops to RM24.75m in Q1

KUALA LUMPUR, Nov 28 — Supermax Corporation Bhd’s net profit for the first quarter ended Sept 30, 2019 fell to RM24.75 million from RM35.94 million in the same quarter last year.

Revenue, however, was slightly higher at RM369.94 million from RM367.05 million previously.

In a filing with Bursa Malaysia today, Supermax said the revenue was derived from the global sales of its natural rubber and nitrile rubber gloves.

Going forward, it said the overall global market is expected to remain robust for disposable gloves — for both natural rubber and nitrile variants.

“The group is also looking beyond Plant #12 for its next phase of capacity growth and has acquired a piece of land in Meru, Klang, on which it plans to build Plants #13, #14 and #15 that will boost capacity to more than 44 billion pieces per annum over the next five years,” it said.

Supermax said it is also well positioned to capitalise on global demand that is expected to continue growing.

“Sales to the United States’ (US) market are expected to grow as US glove buyers divert their orders away from China as a result of the ongoing US-China trade war.

“As for the contact lens division, the group will continue to secure new licences and product approvals, which allows the group to access various markets globally.

“The group will gradually extend its global marketing footprint to more and more countries, including the US and Japan, which are the two largest markets in the world for contact lenses,” it said.

Going forward, the company will continue to work on obtaining licences and approvals for its products in more countries, and expand its product range to include coloured lenses. — Bernama

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