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Top Glove's net loss narrows sharply in 4Q on higher sales, gain from land sale
Top Glove Corporation Bhd said on Thu that its net losses narrowed sharply as sales surged, and the world's largest glovemaker by capacity also booked gains from land sale.
Net losses for the three months Aug 31 (4QFY2024) was RM3.57 million, compared to RM461.73 million over the same period last year, Top Glove said in an exchange filing. Revenue for the quarter rose 75% year-on-year to RM835.31 million, from RM476.06 million.
"To ensure the group is well positioned to meet the rapidly returning glove demand, installation of advanced production lines, which had been temporarily halted due to oversupply, will resume at Top Glove's newer factories," the company said.
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bullrider_21
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ZenSG : Is the earning result out?
bullrider_21 OP ZenSG : Yes, this is the results.
Detached House : Suppose to be read as good right Bro?
Detached House : This one must be syndicated by the Malaysian side. Try to short it first
bullrider_21 OP Detached House : I think so. No proceeds from land sales in Q3. They may drive it to 0.30-0.305 support, before pushing it up. Let's see.
Detached House : Thanks Guru Bro!
bullrider_21 OP Detached House : np bro.
ZenSG bullrider_21 OP : Thanks for the info, I also thought the result is good too but market not reacting positively yet.
bullrider_21 OP ZenSG : np.
ZenSG bullrider_21 OP : Is it going up today?
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