Top Glove's Q2 profit dips 2.9% to RM105.8m on soaring finance costs
Finance costs soar to RM19.9 million from RM2.7 million previously
Singapore
A JUMP in finance costs caused Top Glove's second-quarter net profit to edge lower by 2.9 per cent to RM105.8 million (S$35.3 million) from RM109 million.
This was despite a 21 per cent rise in revenue for the three months ended Feb 28 to RM1.16 billion. Revenue was lifted by sales volume growth of 16 per cent - higher than the projected global demand of about 10 per cent a year - as well as a higher average selling price.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs