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Dec 10 (Reuters) – Malaysia’s Top Glove TPGC.KL said on Friday its quarterly profit had been nearly wiped out, adding that it expected the business environment in the immediate term to be challenging.
The world’s largest medical glove maker posted net profit of 185.7 million ringgit ($44.04 million) during the September-November quarter, a plunge of 92% from 2.36 billion ringgit a year ago.
The company said average selling prices and demand have been returning to normal after the global rollout of coronavirus vaccine, while customers stay cautious on replenishment orders.
($1=4.2170 ringgit)
(Reporting by Sayantani Ghosh in Singapore and Liz Lee in Kuala Lumpur; Editing by Clarence Fernandez)
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