Selangor Journal
Hartalega workers conduct research and development on different types of rubber gloves at the Hartalega Next Generation Complex (NGC) Innovation Centre in Sepang, on August 24, 2020. — Picture by HAFIZ OTHMAN/SELANGORKINI

Hartalega records higher net profit of RM1 bln in third quarter 2020

KUALA LUMPUR, Jan 25 — Hartalega Holdings Bhd’s net profit surged to RM1.0 billion in the third quarter ended December 31, 2020 (Q3 2021) compared with RM121.27 million in Q3 2020.

Revenue soared by 167.4 per cent to RM2.13 billion against RM796.55 million previously, the world’s largest nitrile glove producer said in a filing with Bursa Malaysia today.

For the nine months ended December 31, 2020 (9MFY21), Hartalega has achieved higher sales revenue of RM4.40 billion, an increase of RM2.25 billion or 104.8 per cent from 9MFY20.

“The significantly improved performance for Q3 2021 and 9MFY21 was mainly due to the higher sales revenue, attributable to the higher sales volume and higher average selling price, as well as lower energy and upkeep expenses,” the group said.

In line with the growing rubber glove demand globally, Hartalega will continue with its Next Generation Integrated Glove Manufacturing Complex (NGC) capacity expansion plans.

To date, all 12 production lines in Plant 6 of NGC facility have been fully commissioned, it said, adding that four out of 10 lines in its Plant 7 have been commissioned.

“Upon full commissioning, Plant 7 will have an annual installed capacity of 2.7 billion pieces,” it said.

With the progressive commissioning of Plant 7, the group’s annual installed capacity is expected to increase to 44 billion pieces by financial year 2022.

Hartalega’s board has declared a second interim single-tier dividend of 9.65 sen per share in respect of the financial year ending March 31, 2021, payable on February 26, 2021.

— Bernama

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