's latest set of results is bolstering optimism the glove maker will deliver sequentially stronger earnings in the coming quarters amid an improving demand outlook.
Given the rising demand, HLIB said it expects glove makers' customers to be more willing to accept higher average selling prices in 1QFY25 to allow them to pass on higher raw material and natural gas prices. In terms of capacity, Hartalega’s internal target is to increase from 32 billion pieces per annum in FY24 to 36 billion in FY25 by commissioning NGC1.5, depending on market conditions.
"We gather that the oversupply situation is softening thanks to the Malaysian manufacturers' capacity"This, along with the depletion of pandemic stockpiles, has gradually recovered global demand ." The research firm upgraded its recommendation to"buy" from"neutral" with a revised target price of RM4.45, up from RM2.45 previously.
Hartalega Glove Profit Oversupply
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