KUALA LUMPUR – Rubberex Corporation (M) Bhd’s net profit for the third quarter ended September 30 surged to RM39.52 million from RM3.11 million in the same period last year.
Revenue rose 75.2% to RM109.03 million from RM62.23 million previously, it said in a filing with Bursa Malaysia today.
The group said the increase in revenue was derived from its nitrile disposable glove division, as the items produced are deemed critical for use by the healthcare sector in the fight against Covid-19.
On prospects, Rubberex said it remains focused on its nitrile disposable glove division, which is operating at full capacity.
“The group’s performance is expected to continue for the rest of 2020 as order books for the existing nitrile disposable glove line have been filled up until the second half of 2021.
“It’s next capacity expansion is on track and expected to contribute to the earnings in the fourth quarter of 2020 onwards.” – Bernama, November 20, 2020
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