KUALA LUMPUR (June 14): Top Glove Corporation Bhd shares rose on Thursday after its net profit the third quarter ended May 31 surged 111% to RM53.81 million from RM25.59 million a year earlier, due mainly to increase in demand, improved efficiency, coupled with a favourable downtrend in natural rubber latex prices.
At 3.18pm, Top Glove rose three sen to R
In a statement June 14, Top Glove said revenue for the quarter rose 13% to RM603.29 million from RM535.36 million, a record high for the company.
Top Glove declared a first single tier net interim dividend of 7 sen to be paid on July 19.
Earnings per share rose to 8.70 sen from 4.14 sen previously, while net assets per share was RM1.95.
For the nine months ended May 31, Top Glove’s net profit jumped 59.3% to RM138.69 million from RM87.06 million, on the back of revenue RM1.71 billion from RM1.51 billion in 2011.