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NewsTop Glove 1Q earnings dn 12.8% to RM31.4m on forex loss
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Top Glove 1Q earnings dn 12.8% to RM31.4m on forex loss
by hlk Fri 16 Dec 2011, 13:45
KUALA LUMPUR (Dec 16): TOP GLOVE CORPORATION BHD []’s
earnings fell 12.81% to RM31.43 million from the RM6.05 million a year
ago mainly due to the higher raw material prices and the oversupply
situation in the industry.
“The current quarter’s net profit was also impacted by the
recognition of net loss in foreign exchange amounting to RM13.3 million
compared with a net gain of RM4.7 million in the corresponding quarter
last financial year,” it said in a statement to Bursa Malaysia on
Friday.
Its revenue rose 12.88% to RM554.84 million from RM491.51 million while earnings per share were 5.08 sen compared with 5.83 sen.
earnings fell 12.81% to RM31.43 million from the RM6.05 million a year
ago mainly due to the higher raw material prices and the oversupply
situation in the industry.
“The current quarter’s net profit was also impacted by the
recognition of net loss in foreign exchange amounting to RM13.3 million
compared with a net gain of RM4.7 million in the corresponding quarter
last financial year,” it said in a statement to Bursa Malaysia on
Friday.
Its revenue rose 12.88% to RM554.84 million from RM491.51 million while earnings per share were 5.08 sen compared with 5.83 sen.
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