KUALA LUMPUR, Malaysia—Latex gloves maker Hartalega Holdings Bhd. has reported a 32.7 percent year-on-year increase in sales for the first quarter of its 2025 fiscal year to $133 million (RM 584 million).
The Malaysian group linked the revenue improvement for the three months ended June 30 to improved sales volume and a marginal increase in average selling prices.
The gains were despite revenue being "partially impacted by shipment delays amid the ongoing global shipment constraints," Hartalega noted.
Meanwhile, first quarter operating profit at the Kuala Lumpur-headquartered group came in at $8 million, compared to a loss of $43 million in the same period last year.
Profitability, it said, improved "on the back of higher revenue … (and) lower operating costs driven by improved production efficiencies with higher capacity utilization."
After a sharp post-pandemic downturn, Hartalega reported "early signs of improving demand for rubber gloves, driven by a gradual recovery in sales orders as pandemic stockpiles diminish."
Moreover, it said, "actions taken by key domestic producers to streamline capacity, and the exit of new entrants have alleviated some of the oversupply pressures."
The group is, therefore, "ramping up production capacity in anticipation of a more favorable demand environment" amid headwinds due to continuing global oversupply.
Additionally, it noted, the gloves sector faces ongoing shipping constraints due to the Red Sea Crisis, which has disrupted established trade routes and caused shipment delays.
