Comfort (Rubber Gloves) low profile glove maker emerged with new major shareholder Datuk Kevin Lau from Leong Hup Holdings. Company profit RM16Million for the 9 months financial year.
Hahaha although I would really love it to be RM16Mil, I highly doubt it will touch RM10mil. We should already be thankful if it even hits RM9mil. I'm not greedy, 9mil cukup cukup..
Comfort Gloves’ 3Q profit up almost 11 times after expansion Published: 11 December 2015 8:23 PM
Comfort Gloves Bhd's performance in its third quarter ended October 31, 2015 (3QFY16) continued to show the fruits of its expansion exercise this year, when net profit came in almost 11 times higher year-on-year (y-o-y) at RM7.17 million from RM672,000 previously.
Revenue for the quarter under review rose 59.6% y-o-y to RM61.28 million from RM38.39 million, according to the company's Bursa Malaysia filing today. The company was formerly known as Integrated Rubber Corp Bhd.
"The contribution mainly resulted from (a) successful expansion plan that was carried out throughout this year," Comfort Gloves said in the explanatory notes accompanying its 3QFY16 financials.
The Perak-based glove maker also pointed out there was a quarter-on-quarter improvement in 3QFY16. In 2QFY16, Comfort Gloves netted RM4.98 million in profit on the back of RM57.34 million in revenue. "In this quarter, the management concentrated on cost reduction in utilities and direct materials usage," the company said, noting its gross margin in 3QFY16 improved to 16.54% from the preceding quarter's 11.73%.
On a cumulative basis (9MFY16), Comfort Gloves' net profit rose a little over 10 times to RM16.26 million from RM1.59 million.
Its 9MFY16 revenue came in 51.2% higher y-o-y at RM171.2 million, from RM113.22 million previously.
Looking ahead, Comfort Gloves said it expects the demand and consumption of rubber gloves in Asia and other emerging economies to increase, on the back of rising awareness in healthcare.
bought 2000lots at 0.83....it will start to rebound to 1.0 by march...thanks to the stupid panic sellers ya...next tuesday will gap up...no more chance to buy cheap
dont buy yet, topglove down down, comfort will follow suit. buy at 0.76. sure win.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
alibabacoming
3,466 posts
Posted by alibabacoming > 2016-01-13 11:19 | Report Abuse
USD up again, wish this company got chance to profit?