Hartalega 2Q Net Profit Slips To RM8.63 Mln
KUALA LUMPUR, Nov 12 (Bernama) -- Hartalega Holdings Bhd posted a lower net profit of RM8.63 million for the second quarter (2Q) ended Sept 30, 2024 (FY2025) compared to RM27.70 million in the same quarter last year.
The group said its 2Q net profit decline was mainly due to higher raw material costs and adverse foreign exchange fluctuations.
Revenue, however, was higher at RM652.07 million against RM452.09 million recorded during the corresponding quarter last year, mainly due to increased sales volume, a Bursa Malaysia filing said today.
For the first half of FY2025, the group returned to the black with a net profit of RM40.55 million versus a net loss of RM24.77 million a year ago, while revenue jumped to RM1.24 billion from RM892.12 million previously.
Hartalega chief executive officer Kuan Mun Leong said the group has commenced commercial operations for some new production lines within its Next Generation Integrated Glove Manufacturing Complex (NGC) 1.5 expansion project in Sepang.
"This more advanced facility, capable of higher production efficiency, represents our commitment to operational excellence and positions us strongly for future market opportunities.
"We are taking a measured approach to bring additional lines online, ensuring our expansion aligns with market dynamics," he said.
Kuan noted that Hartalega's strategic investments in advanced manufacturing capabilities and operational efficiency improvements are laying the groundwork for sustainable long-term growth.
"Our robust five-year strategic plan continues to guide us forward, focusing on technological advancement, cost optimisation and unwavering commitment to ESG excellence.
"The fundamentals of global healthcare demand remain strong, and we are strategically positioning Hartalega to capture opportunities as market conditions improve," he added.
Meanwhile, the group also declared a first single-tier dividend of 0.56 sen per share payable on Dec 11, 2024.
At 2.47 pm, Hartalega share price rose four sen to RM3.25 per share. A total of 6.56 million shares were traded.
-- BERNAMA
