More gloves shipped at higher average selling prices

Supermax says glove demand strong, profit up
Written by Reuters
Thursday, 07 January 2010 20:34

KUALA LUMPUR: Malaysia's No 2 rubber glove maker Supermax expects another year of strong profit growth as fears about a resurgence of the H1N1 flu fuel demand for its products, a top executive told Reuters today.

Supermax may upgrade its earnings target for 2010 when it announces its full-year earnings for 2009 in February, managing director Datuk Seri Stanley Thai said.

The glove maker had previously guided for a net profit of RM133 million for 2010.

"2010 will continue to be a good year for the glove industry. We expect handsome profits," Thai said in a telephone interview.

Supermax has already received glove orders that will keep its factories busy for the next four to five months, he said.

Thai also said fourth-quarter net profit will be better than the third-quarter.

"We shipped more gloves at higher average selling prices in the fourth-quarter than the third-quarter," he said. — Reuters