KUALA LUMPUR, Nov 20 -- Rubberex Corporation (M) Bhd’s net profit for the third quarter (Q3) ended Sept 30, 2020 surged to RM39.52 million from RM3.11 million in the same period last year.
Revenue rose 75.2 per cent to RM109.03 million from RM62.23 million previously, it said in a filing with Bursa Malaysia today.
The group said the increase in revenue was derived from its nitrile disposable glove division as the gloves produced were deemed critical essential products for use by the healthcare and medical sectors in the fight against the pandemic.
On prospects, Rubberex Corporation said it remains focused on its nitrile disposable glove division, which is currently operating at full capacity.
“The group’s performance is expected to continue for the rest of 2020 as order books for the existing nitrile disposable glove lines have been filled up until the second half of 2021.
“It’s next capacity expansion is on track and is expected to contribute to the earnings in the fourth quarter of 2020 onwards,” the group said.
-- BERNAMA
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