bullish
Top Glove Corp (TOPG MK): Break-Even Achieved in 1QFY25, Strong Demand to Persist in Coming Quarters
576 Views23 Dec 2024 14:19
SUMMARY
- Top Glove Corp (TOPG MK) achieved 80% YoY revenue growth in 1QFY25 and returned to profitability with a net profit of RM5M.
- With robust demand outlook, Top Glove expects the ASP to further strengthen. The company aims to recover its EBITDA margin to pre-pandemic levels of 15% by FY26 from 10% now.
- Import alert and expected tariff increase on Chinese manufacturers, may help shift the focus from China to Malaysia, as the preferred sourcing destination, thereby helping Top Glove.
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Tina Banerjee
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