KUALA LUMPUR, Nov 17 — Supermax Corp Bhd’s net profit for the first quarter ended Sept 30, 2021, narrowed to RM638.52 million from RM789.52 million, mainly due to lower average selling prices for gloves.
Revenue for the quarter, however, rose by 7.6 per cent to RM1.45 billion compared to the corresponding quarter a year ago, on the back of continued strong global demand for the group’s medical gloves and other personal protective equipment amid the global Covid-19 pandemic. “Moving forward, the company sees demand to continue to increase but global glove selling prices are decreasing. The demand for gloves as a PPE remains strong as the world continues to fight the COVID-19 pandemic.Supermax had completed the commissioning of the remaining production lines in Block B of Plant #12 in the last quarter of the calendar year 2020, adding 2.2 billion to the group’s annual installed capacity.
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