Top Glove swings into the black with RM38.6 million Q4 net profit; returns to full-year profitability

It declares a final dividend of 0.48 sen per share and attributes the improved performance to stronger demand

Malaysian glove-maker Top Glove on Thursday (Oct 9) posted a net profit of RM38.6 million (S$11.8 million) for its fourth quarter ended August, a turnaround from its net loss of RM6.6 million in the year-ago period.

Its earnings per share (EPS) for the quarter stood at 0.48 sen, compared to a loss per share (LPS)of 0.08 sen previously.

The company attributed its improved performance to stronger glove demand, which continued to gain momentum throughout FY2025, alongside ongoing initiatives to improve cost efficiency. Favourable raw material prices helped cushion the impact of a weaker US dollar, it added.

Enhanced cost management also enabled more competitive pricing, the group said. This lifted sales volumes, which climbed 30 per cent on the year, and in turn boosted utilisation rates to about 75 per cent of running capacity in August 2025.

For Q4, its profit before tax surged nearly eight times year on year to RM47.8 million.

Revenue in the three months climbed6.7 per centto RM889.6 million, from RM833.7 million in the same quarter the year before.

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For the full year, Top Glove recorded a net profit of RM109.1 million, recovering from a net loss of RM64.9 million in FY2024. This marks its return to profitability after recording net losses for the past two financial years.

It posted a full-year EPS of 1.36 sen, compared to an LPS of 0.81 sen previously.

FY2025’s profit before tax stood at RM154.4 million, versus a RM31.3 million loss before tax in FY2024.

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Revenue grew 38.8 per cent to RM3.5 billion for the full year, from RM2.5 billion in the prior year.

Across the company’s three principal markets, the bulk of its top line came from Malaysia, which generated RM3.2 billion in revenue. The Thailand segment contributed RM558.7 million, while Vietnam brought in RM41 million in revenue.

Top Glove also recorded RM144.6 million in other revenue, as well aseliminations amounting to RM479.8 million.

Following the company’s recovery,the board recommended a final dividend of 0.48 sen per ordinary share, payable on Dec 15. This brings Top Glove’s total payout for the financial year ended Aug 31 to RM38.5 million.

It last posted a dividend in FY2022. At 1.2 sen per share, the payout that year totalled RM96.1 million.

Outlook

Top Glove aims to reinforce its global presence by increasing its US market share “significantly” by FY2026. It said that it remains optimistic on the long-term prospects of the glove industry, underpinned by its essential role across healthcare, industrial and food and beverage sectors.

In Singapore, the counter closed Wednesday at S$0.181, up S$0.003 or 1.7 per cent.