Top Glove reports lower profits in third quarter
– Top Glove Corporation Bhd expects the average selling price (ASP) for rubber gloves would drop below the 2019 pre-pandemic
level, depending on the supply and demand conditions, executive chairman Tan Sri Dr Lim Wee Chai said to reporters during their third quarter report.
He said ASP, especially for nitrile gloves, has dropped significantly and affected the company’s margin, which is almost bottoming down.
He said in the last six months, the supply of rubber gloves had reduced mainly due to a halt in production by industry players by more than 50 per cent while demand remained elevated especially for medical usage as well as non-medical industry.