Supermax’s earnings surge 105% in 3QFY20


SUPERMAX Corp Bhd’s net profit more than doubled to RM71.06 million in the third quarter ended March 31, 2020 (3QFY20), from RM34.62 million last year, underpinned by a 23.8% jump in revenue to RM447.25 million from RM361.2 million previously.

The increased sales was mainly due to higher average selling prices, a surge in overseas sales due to strong demand for medical gloves amid the Covid-19 pandemic, increased production output from the group’s latest plant, lower raw material prices and a stronger US dollar.

“The current market conditions favour Supermax and our outlook is expected to remain strong for at least the next 1.5 to two years, while a vaccine against Covid-19 is still under development,” the glovemaker told Bursa Malaysia yesterday.