KUALA LUMPUR – The net profit of Hartalega Holdings Bhd surged to RM1 billion in the third quarter (Q3), which ended on December 31 last year, compared with RM121.27 million the previous year.
In a filing with Bursa Malaysia today, the world’s largest nitrile glove producer said its revenue soared by 167.4% to RM2.13 billion, against RM796.55 million previously.
For the nine months ending on December 31 last year (9MFY21), Hartalega has achieved higher sales revenue of RM4.40 billion, an increase of RM2.25 billion, or 104.8%, from 9MFY20.
“The significantly improved performance for Q3 2021 and 9MFY21 was mainly due to the higher sales revenue, attributable to the higher sales volume and higher average selling price, as well as lower energy and upkeep expenses,” the group said.
In line with the growing rubber glove demand, Hartalega will continue with plans to expand its Next Generation Integrated Glove Manufacturing Complex (NGC).
It said to-date, all 12 production lines in Plant 6 of the NGC facility have been fully commissioned, as well as four out of 10 lines in Plant 7.
“Upon full commissioning, Plant 7 will have an annual installed capacity of 2.7 billion pieces (of gloves).”
With the progressive commissioning of Plant 7, the group’s annual installed capacity is expected to increase to 44 billion pieces by financial year 2022.
Hartalega’s board has declared a second interim single-tier dividend of 9.65 sen per share in respect of the financial year ending on March 31, payable on February 26. – Bernama, January 25, 2021
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