Announced their Q2 result today.
For this Q, Gross Profit increase from RM16M to RM24M, Gross Margin improves from 21.6% to 26.7%. Net Profit increase from RM11M to RM 14M, Net Margin improves from 14% to 16%.
EPS for 1st half is around 4sen, giving a dividend of 2.3sen.
Sounds pretty good to me.
In another annoucement today...
1) Construction of 1 new single former glove production dipping line
The Company’s wholly-owned subsidiary, Protective Technology Co., Ltd (“Protective Technology”) has awarded a contract to a company in Malaysia to construct another new single former glove production dipping line at 208 Moo 7, Tambol Thatoom, Amphur Srimahaphot, Prachinburi 25140, Thailand for a contract sum of approximately RM2,855,000.00 (equivalent to US$892,000 at the exchange rate of RM3.20 to USD1.00).
The construction of the said new single former glove production dipping line is expected to be completed by first quarter of 2014. When completed, the Group’s production capacity is expected to be increased by 90 million gloves to 3.19 billion gloves.
2) Construction of a new rubber glove factory building
The Company refers to the announcement released on 4 April 2013 relating to the acquisition of land located at Kamunting Raya Industrial Estate, Taiping, Perak, Malaysia by Sinetimed Consumables Sdn Bhd (“Sinetimed”), the Company’s wholly-owned subsidiary. Sinetimed had awarded a contract to a company in Malaysia to construct a new rubber glove factory building at the said land for a total contract sum of RM16.28 million. Construction of the new rubber glove factory building is expected to be completed by end of second quarter 2014. The new rubber glove factory building will be constructed to house production facilities. The Company shall release further announcement as and when appropriate.
Look like they are still expanding. Gloves are on high demand!