PETALING JAYA: Glove maker Supermax Corp Bhd
registered a 21% drop in net profit to RM30.17mil for the second quarter of its financial year ending June 30,2020 (FY20), mainly due to lower average selling prices and increase in production costs.
This brought the group’s net profit for the first half of FY20 to RM54.91mil, which declined 26% as compared to the same period last year.
Supermax said demand for Malaysian-made gloves began to pick up towards the end of last year as US buyers diverted their orders to non-China glove producers as a result of the ongoing US-China trade spat.
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