Top Glove cuts losses to MYR 3.6m in Q4 as sales revenue surges 75% YoY
Sales volume also grew significantly.
SGX-listed Top Glove significantly cut its losses to MYR 3.6m ($1.1m) in Q4 2024.
In Q4 2023, the company recorded a loss of MYR 461.7m ($140.6m).
The company attributed its improved financial standing to the increase in its sales revenue in Q4, which rose 75% YoY to MYR835m.
The company’s sales volume also grew significantly, increasing by 91% YoY.
The company saw strong growth in the US, where volumes soared 120% quarter-on-quarter.
"Customers continued to replenish glove inventories, leading to higher utilisation rates and enhanced cost efficiency," the company said.