most of the gloves factories increase SP range of 10 to 30% since April. Take ASP 10% up, couple with no major cost increase in production, so net profit will increase by 100% easily.
paktua just want clear the cloud here.. we never condemned OTB action.. his stlll great investor gurus.. ----------------------- Dear paktua, Thank you for your good words. I recommended a buy at 0.82. My target price is only 1.68. I am happy with the profit made. Never mind, 100% profit to me is good enough. Thank you.
Target for comfort is RM4.00 Rm2.50 is on early stages demand for gloves is long way to go. IF....1usd rm3 THEN dump your gloves BUT hard to recover to 1usd rm3. 60% may even go up to 1usd rm5
Copy from Top Gloves forum. Today glove shares flying due to news below...
blood7 Riverstone (SGX-listed Malaysia's No.5 gloves producer) quarterly result is out.
PBT and Net Profit up more than 50%. Looking at the result, I think the ASP are up by a lot and also the raw material cost decreased significantly. All the gloves producers in Malaysia should do very well in their coming quarter, especially those with spare capacity to ramp up their production.
Financial Highlights RM million 1Q2020 1Q2019 Change (%) Revenue 279.4 240.5 16.2 Gross Profit 67.1 46.6 44.0 Profit Before Tax 58.0 35.6 62.9 Net Profit to Equity Holders 46.6 30.2 54.3
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Posted by Diamond7 > 2020-05-12 10:46 | Report Abuse
Careplus ...very very exciting!
Soon will be comfort's turn!
Top glove oso exciting!