Kossan’s q1 net profit rises
Published on: Saturday, May 25, 2019
By: Bernama
Kuala Lumpur: Kossan Rubber Industries Bhd posted a higher net profit of RM58.72 million in the first quarter ended March 31, 2019 (Q1 2019), attributable to improvements in all three divisions, namely gloves, technical rubber products (TRP) and clean room.The company’s net profit stood at RM44.51 million in the corresponding period last year.
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In a filing with Bursa Malaysia on Friday, Kossan said its revenue during the quarter climbed to RM561.47 million from RM484.18 million in Q1 2018. It said the gloves division’s revenue rose 18.52 per cent year-on-year (y-o-y) to RM496.99 million in Q1 2019 from RM419.31 million in Q1 2018 due to the higher volume of glove products sold (rose 18.8 per cent y-o-y) in the quarter under review.Stay up-to-date by following Daily Express’s Telegram channel.
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