KUALA LUMPUR: Kossan Rubber Industries Bhd’s (Kossan Rubber) net profit increased 28.64 per cent to RM55.88 million in the second-quarter (Q2) ended June 30, 2019, from RM43.44 million previously.
In an exchange filing today, the glove manufacturer said the higher profit was contributed by increased sales volume for glove products and production output, supported by manufacturing efficiency and effective cost controls.
Its Q2 revenue rose 10.82 per cent to RM550.53 million from RM496.79 million on the back of the improved performance from the gloves and technical input rubber products division.
For the first-half of 2019, Kossan Rubber’s net profit jumped 30.30 per cent to RM114.61 million from RM87.96 million.
Its revenue rose 13.26 per cent to RM1.11 billion from RM980.96 million a year ago.
Kossan Rubber said it was confident the current fiscal year would be a growth year for the group, leveraging on its transformation plans and a growth strategy that focuses on cost savings, advanced manufacturing technology and continuous improvements in operating efficiency.