2021-09-17 09:34:12
Top Glove FY21 Q4 Result Released
Some key informations extracted from Quarter Report
- Normalizing demand + vaccination rollout at global scale lead to lower sales volume (YoY 33% lower) and ASPs
- Falling of ASPs were not matched by reduction in raw material prices
- Average natural latex concentrate prices YoY 29% higher (RM 5.73/kg for FY2021), while average nitrile latex prices YoY 106% higher (USD 2.11/kg for FY2021)
- Raw materials price trended downward in FY2021 Q4 but not rapidly enough to offset falling of ASPs
- Finding imposed by US CBP impacted sales volume and profit (Lifted at 10 Sep 2021)
- 10 days EMCO at Selangor which didn't allow glove industry to operate, involved 50% of Top Glove's factories
- Subsequent round of MCO on affected facilities were only permitted to operate at 60% capacity
- Output reduction decrease utilisation rate, driving costs upwards
Are you satisfied with $TOPGLOV(7113.MY) latest quarter result ?
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