Glove bulls seem to be getting lethargic as more countries kick-start their Covid-19 vaccination programmes. Malaysia will soon be the latest one, which will begin on coming Wednesday.
made RM542mil in net profit in the fourth quarter ended Dec 31 on strong glove demand, lifting its full year earnings to above RM1bil.
The company has declared a second interim dividend of 3 sen a share and a special payout of 8 sen a share.
Kossan, in its outlook, predicted FY2021 to be an extraordinary year, as demand is projected to remain robust. For the Gloves division, demand continues to exceed supply and the Group expects this to remain for FY2021, Kossan said in a filing with Bursa Malaysia. Post-pandemic, the demand for gloves will continue to undergo secular growth as a result of increased healthcare standards and hygiene awareness in the medical and non-medical sectors. With our new incoming capacity and efficiency improvements, the Group expects the Gloves division to deliver an even stronger performance in FY2021, it said.
Malaysian medical glove exports face more delays amid shipping container shortage bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Malaysia's medical glove makers face weeks of delays in delivering products to customers abroad due to a global shortage of shipping containers, hampering their ability to meet demand during the coronavirus crisis, industry officials said.