[SINGAPORE] Sri Trang Gloves (Thailand) posted a net profit of 424.2 million baht (S$16.7 million) in the first quarter ended Mar 31, a 189 per cent increase from 146.8 million baht in the year-ago period.
Revenue rose to 6.5 billion baht in Q1, 8.2 per cent higher from 6.1 billion baht the year before. Sales volume over the same period rose 8.9 per cent year on year to 9.1 billion pieces.
Earnings per share stood at 0.15 baht, up from 0.05 baht in the corresponding year-ago period.
The group said on Tuesday (May 13) that its increase in net profit reflects the continued recovery of the industry and its diversified customer base.
“We will continue to make improvements in operations in anticipation of the global economic uncertainty and volatility.”
It will focus on increasing the production of speciality gloves, and currently produces over 85 types of gloves including surgical and diamond-textured gloves.
Shares of Sri Trang Gloves (Thailand) ended Tuesday flat at S$0.395 before the announcement.
Copyright SPH Media. All rights reserved.
