Top Glove's 2Q Net Profit Rises To RM30.76 Mln, Revenue Jumps 14 Pct
KUALA LUMPUR, March 18 (Bernama) -- Top Glove Corporation Bhd’s net profit increased to RM30.76 million in the second quarter ended Feb 28, 2026 (2Q FY2026) from RM30.28 million posted in the same quarter last year.
Revenue rose 14 per cent to RM1.0 billion from RM883.65 million previously, driven by stronger sales orders across most regions, the world’s largest glove maker said in a filing with Bursa Malaysia today.
“Leading the uplift was Europe, where sales surged significantly during the quarter, reflecting regained market share and continued customer confidence in Top Glove.
“Higher utilisation of 89 per cent further supported cost efficiency and productivity gains, enhancing competitiveness even as average selling prices softened in line with declining raw material prices,” it added.
Top Glove said while its performance was moderated by a sudden and sharp weakening of the US dollar from mid 2Q FY2026 despite a prudent and consistent hedging policy, the unexpected steep currency movement limited the ability of the hedging programme to fully mitigate the impact.
“Nevertheless, continued improvements in cost management and quality efficiency, together with higher utilisation rates, helped offset a significant portion of the adverse currency effects,” it said.
For the first half ended Feb 28, 2026 (1H FY2026), Top Glove’s net profit widened to RM69.34 million against RM35.76 million recorded in 1H FY2025, while revenue improved to RM1.89 billion against RM1.77 billion previously.
In a separate statement, managing director Lim Cheong Guan said the group are encouraged by the strong volume growth this quarter, driven by continued glove demand growth and the effectiveness of its operational discipline.
“While foreign exchange pressures tempered our performance, the diligent efforts of our people in delivering quality, cost efficiency and service excellence helped to offset the impact considerably.
“The global environment remains fluid, including ongoing geopolitical developments, and we will continue to manage these external factors prudently and maintain stable operations,” he said.
Meanwhile, executive chairman Tan Sri Lim Wee Chai said Top Glove will continue to focus on internal strengths include quality, cost efficiency and service delivery, amid current geopolitical situation including the conflict in West Asia, which has introduced significant uncertainty and volatility across markets, supply chains and logistics.
“As long as we remain disciplined in these areas, vigilant and united, not only will we be able to manage the challenges ahead, but seize the opportunities they present,” he said.
-- BERNAMA