Kossan Rubber Q1 net profit rises to RM58.72mil

TheStar Sat, May 25, 2019 09:20am - 4 years View Original


KUALA LUMPUR: Kossan Rubber Industries Bhd posted a higher net profit of RM58.72mil in the first quarter ended March 31, 2019 (Q1 2019), attributable to improvements in all three divisions, namely gloves, technical rubber products (TRP) and clean room.

The firm’s net profit stood at RM44.51mil in the corresponding period last year.

In a filing with Bursa Malaysia today, Kossan said its revenue during the quarter climbed to RM561.47mil from RM484.18mil in Q1 2018.

It said the gloves division’s revenue rose 18.52% year-on-year (y-o-y) to RM496.99mil in Q1 2019 from RM419.31mil in Q1 2018 due to the higher volume of glove products sold (rose 18.8% y-o-y) in the quarter under review.

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