LATEXX PARTNERS' Net Profit for 1QE Mar 31, 2009 surged to RM9.1m from RM1.1m a year earlier, mainly due to better margins from a change in product mix with sales of more premium gloves.
In an EXCHANGE filing on May 6, 2009, the rubber glove maker attributed the stronger performance to an improvement in overall cost savings from economies of scale, lower latex and crude oil prices, and favourable USD exchange rate.
Revenue rose 47% to RM70.3m in 1QE Mar 2009 from RM47.8m a year earlier, while EPS jumped to 4.7 sen from 0.58 sen.
NO DIVIDEND DECLARED
No dividend was declared.
EXPANSION
The Company is targetting to install eight new double formers glove production lines and continue to upgrade its existing glove production to meet market demand.
" .... The eight new double formers glove production lines are targeted to be completed in 2009 ...." it said, adding that " .... With the additional lines, the Group projected total annual output to increase from four billion pieces to six billion pieces. " .... The Company expected strong demand from the healthcare sector despite the current economic slowdown ....".
LATEXX also expects to benefit from lower prices of latex concentrate and crude oil, and favourable exchange rate.
5 hours ago
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