Hartalega's 9-months profit below expectatiions

TheStar Thu, Feb 14, 2019 09:36am - 5 years View Original


“Anecdotal evidence suggests that shorter delivery lead time does indicate that strong demand is tapering off and players ramping up production could result in further average selling price (ASP) pressure. “From our channel checks, we gather that competition in the nitrile gloves segment has intensified, leading to pressures on the ASP,” it said in a note yesterday

“Anecdotal evidence suggests that shorter delivery lead time does indicate that strong demand is tapering off and players ramping up production could result in further average selling price (ASP) pressure. “From our channel checks, we gather that competition in the nitrile gloves segment has intensified, leading to pressures on the ASP,” it said in a note yesterday

PETALING JAYA: Glovemaker Hartalega Holdings Bhd ’s net profit in the first nine months ended Dec 31, 2018 (9M19) came in below consensus expectations, despite having increased by 13% year-on-year (y-o-y).

According to Kenanga Research, Hartalega’s net profit of RM364.8mil in the nine-month period was only 71% of the consensus’ full-year forecast.

   

However, it came in within the research house’s forecast at 75%.

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