SINGAPORE (Dec 18): AmInvestment Bank is keeping its “buy” call on Top Glove Corporation, despite continued headwinds for the world’s largest rubber glove manufacturer.

Top Glove saw its earnings edge 1.2% higher to RM111.4 million ($36.4 million) for 1QFY2020 ended November, even as revenue slipped 4.2% to RM1.21 billion on lower average selling prices (ASP) and lower average raw material prices.

In its results announcement on Dec 17, Top Glove noted that the nitrile glove delivered strong sales volume growth of 20% and significantly higher contributions to group profit.

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