BANGKOK—Sri Trang Agro-Industry Public Co. Ltd. has seen strong growth in both its core business of natural rubber production and gloves manufacturing in 2021.
The company posted a 66.3-percent year-on-year increase in net profit to $484 million (THB 15.8 billion), on 57-percent higher sales of $6.3 billion, Sri Tang said in a Feb. 17 statement.
Revenue from the NR business came in at $1.17 billion, up 58.6 percent compared to last year and accounting for 59.8 percent of total group revenue.
The company linked the increase to a "strong rebound in demand," which helped volumes increase 25.4 percent year-on-year across all products to just under 1.3 million metric tons.
The growth, said the integrated NR company, was significantly higher than the global consumption increase of 9.4 percent during the year.