Hartalega Pre-Tax Profit Dips Due  To Higher Operating Costs And Decrease In Sales Revenue

Hartalega Bhd announced a pre-tax profit of RM218.376 million on the back of a turnover of RM968.693 million for the fourth quarter ended 31 March 2022  from a pre-tax profit of RM1.513 billion on the back of a turnover of RM2.307 billion previously

In a Bursa filing, it said that the lower revenue was mainly due to the normalising average selling price (ASP) mitigated by the increase in sales volume by 9%.  Profit before tax has decreased by RM 1.29 billion or 85.6% to RM 218.4 million, as compared to RM 1.51 billion in Q4FY21. The decrease in profit before tax was mainly due to the decrease in sales revenue coupled with higher operating cost.

For the period todate, it achieved announced a pre-tax profit of RM4.637 billion on the back of a turnover of RM7.888 billion from a pre-tax profit of RM3.813 billion on the back of a turnover of RMRM6.703 billion  previously

On the prospects, the longer term, the glove sector is expected to see a structural step-up in demand with increased glove usage from emerging markets that have a low glove consumption base, complemented with higher awareness of hygiene and health consciousness among healthcare practitioners post-pandemic.

It said that as such, the Group will continue with the planned NGC 1.5 expansion project. The construction for this project is currently underway and the Group aims to commission the first line in the fourth quarter of 2022. The pace of commissioning will depend on the prevailing market situation.

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