Top Glove sees 4Q earnings fall 36% to $21.6 mil

SINGAPORE (Oct 12): Malaysian glovemaker Top Glove Corporation saw 4Q16 earnings fall 36.1% to RM65.6 million ($21.6 million), or 5.24 sen per share, from a year ago.

For the three months ended August, revenue inched up 1.8% to a record RM722.1 million from the preceding year while profit before tax fell 43.6%.

The drop in profitability came on the back of a challenging environment in 2H16, as tailwinds from 1H16 gradually turned to headwinds.

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