HARTALEGA Q1 PROFIT RISES TO RM124.9m
KUALA LUMPUR: Hartalega Holdings Bhd’s net profit rose 29.54 per cent to RM124.87 million in the first quarter ended June 30 this year, from RM96.39 million in the same period last year.
Hartalega attributed this to higher sales revenue, lower operational cost and improved operational efficiency.
In a Bursa Malaysia filing yesterday, Hartalega said its revenue had increased 17.52 per cent to RM706.35 million in the first quarter, from RM601.04 million a year ago, due to consistent higher demand and increased production capacity for nitrile gloves.
Hartalega managing director Kuan Mun Leong said the performance was also driven by organic growth via higher sales volume.
“This was achieved on the back of robust demand growth for nit rile gloves, coupled with continuous expansion in production capacity at our next-generation integrated glove manufacturing complex,” he said in a statement yesterday.
The company remains positive on its prospects in the mid to long term, premised upon its highly efficient technology.
“We expect our latest innovation, the world’s first non-leaching antimicrobial glove, to contribute to our growth. Launched in London in May, we have begun taking sales orders for the new glove in the European Union and are in the midst of securing the Food and Drug Administration’s approval to enter the United States market,” said Kuan.