SINGAPORE (Dec 17): Top Glove Corporation has reported earnings of RM111.4 million ($36.4 million) for 1QFY2020 ended November 2019, some 1.2% higher than earnings of RM110.1 million recorded a year ago.

The improvement was largely due to lower taxes of RM13.7 million during the quarter, compared to RM30.2 million a year ago, on the back of tax incentives available to Malaysia and certain overseas subsidiaries.

On a fully diluted basis, earnings per share fell to 4.15 sen for 1QFY2020, from 4.31 sen in 1QFY2019.

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