PETALING JAYA: Top Glove Corp Bhd continued its positive momentum from the fallout of the Covid-19 pandemic when it posted a 605% jump in net profit for the first quarter ended Nov 30, 2025 (Q1 FY2026).
Driven by higher plant utilisation and cost optimisations, net profit soared seven-fold to RM38.6 million from RM5.5 million a year earlier, the world’s largest glove manufacturer said in an exchange filing today.
Revenue for the quarter however dipped marginally to RM883.6 million from RM885.9 million, weighed down by lower average selling prices as well as a stronger ringgit against the US dollar.
The company had returned to profitability in FY2025 with a net profit of RM109.1 million after two torrid years in the red.
Sales volume for Q1 jumped 17% from a year ago, led by strong demand from the US. This was largely propelled by returning glove demand and the group’s ongoing “strategic improvement initiatives”, the company said.
Higher order volumes also improved plant utilisation, resulting in stronger cost efficiency and economies of scale.
Earnings per share stood at 48 sen, a 586% surge from seven sen a year ago. No dividend was declared for the quarter.
“Our vastly improved performance is testament to our unwavering focus on optimising quality and cost efficiency, while meeting our customers’ needs even as glove demand continues to recover steadily,” said its managing director Lim Cheong Guan.
Top Glove said it anticipates continued growth in glove demand across key markets, driven by regular replenishment cycles and emerging opportunities.
“To meet rising demand, Top Glove will continue to reactivate more production lines as lead times and utilisation increase,” it added.
Top Glove was founded by its executive chairman Lim Wee Chai, 67, and his wife Tong Siew Bee in 1991, and within a decade transformed it into one of the world’s largest producers of rubber gloves.
It also has manufacturing operations in Thailand and Vietnam, with its 51 factories having a total production capacity of 95 billion gloves annually.
Lim had a net worth of US$995 million (RM4.07 billion) as of April 2025, placing him at the No. 21 spot on Forbes’ Malaysia’s 50 Richest list.
He has a 37.2% interest in the company, comprising a direct stake of 28.4% and an 8.8% indirect stake as of Nov 25, 2025.
Top Glove closed 1.5 sen or 2.4% higher at 65 sen today, valuing it at RM5.3 billion.
