KUALA LUMPUR: Glove maker Supermax Corp Bhd's fourth quarter profits ended June 2019 jumped 59 per cent to RM15.06 million from RM9.47 million a year ago, thanks to higher sales of medical gloves.
In its filing to the stock exchange today, Supermax said its fourth quarter revenue rose 14.1 per cent to RM375.96 million from RM329.46 million, previously.
Supermax attributed the good performance to the commissioning of more efficient lines. The strengthening of the US dollar against the ringgit also helped contributed postively to the group’s earnings.
As at June 2019, the group’s balance sheet remains healthy with with RM173.8 million in cash. Its net gearing is 0.19 times.
For its full year, Supermax said profits went up 16.0 per cent to RM123.75 million from RM106.66 million while revenue grew 14.2 per cent to RM1.49 billion from RM1.3 billion, previously.
Supermax said it will continue to replace its older plants and put up new ones that can produce gloves at a faster using less fuel.
Supermax has just acquired a piece of land in Meru, Klang. It plans to build its 13th, 14th and 15th plants that will boost capacity by 60 per cent to more than 44 billion pieces per year, over the next five years.
Supermax also said it will continue to pursue licences and approvals for its contact lens sales in more countries. It wants to further expand its product range to include other types of lenses such as colour lenses.
"We have recently acquired Clayton Dynamics Co Ltd, a Japanese company, to gain further market access into the lucrative cosmetic lens market there," it said.