Top Glove delivers strong growth in first quarter earnings

Shah Alam, Malaysia – Top Glove Corp. has seen a strong increase in first-quarter earnings (profit after tax and minority interest), helped largely by higher volumes and utilisation rates.

For the quarter ended 30 Nov 2025, earnings rose to RM39 million (€8.2 million), up 680% year-on-year, while operating profit rose 925% to RM41 million, said the Malaysian group 17 Dec 2025.

Sales for the period was flat at RM884 million, but volumes grew 17% year-on-year, Top Glove added.

The group linked the growth in earnings to “continued operational discipline and market agility” as well as volume growth across key markets, particularly the US.

Revenue was softer despite the increase in volume mainly due to lower average selling prices (ASPs).

This was in line with declining raw material costs as well as the impact of a stronger ringgit versus the US dollar.

However, Top Glove said, higher plant utilisation contributed to improved cost efficiency and economies of scale.

This was further supported by “quality enhancement and cost optimisation measures, strategic marketing initiatives alongside organisational realignment efforts,” it added.

The strong start to fiscal year “builds on the sustained momentum from last year" and sees the restoration of earnings margins to pre pandemic levels, said managing director Lim Cheong Guan.

As for the industry outlook, Top Glove said prospects for the glove industry “remain promising as gloves continue to be an essential item across healthcare and multiple other sectors.”

The Group expects glove demand to continue growing across key geographies, supported by steady replenishment cycles and new opportunities.

To meet rising demand, Top Glove said it would “continue to reactivate” more production lines as lead times and utilisation increase.