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Top Glove 1QFY22 earnings down 92% y-o-y on lower ASPs and glove demand

Atiqah Mokhtar
Atiqah Mokhtar12/10/2021 3:6 PM GMT+08  • 2 min read
Top Glove 1QFY22 earnings down 92% y-o-y on lower ASPs and glove demand
The group has declared a dividend payment of 1.2 sen per ordinary share.
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Top Glove Corp has reported earnings of RM185.7 million ($60 million) for the 1QFY2022 ended November, down 92.1% from the RM2.36 billion logged a year ago.

Earnings per share (EPS) stood at 2.32 sen for the 1QFY2022, compared to 29.02 sen in 1QFY2021.

Top Glove attributes the softer performance to normalising average selling prices (ASPs) and glove demand following mass vaccine rollouts globally, while customers remained cautious on replenishing orders.

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