Latest news with #PATAMI
BusinessToday
27-06-2025
- Business
- BusinessToday
Top Glove Saw Q3 Profits Decline 32% To RM34 Million
Top Glove Corporation Bhd announced its third quarter ended (3QFY2025),and nine months ended May 31, 2025 (9MFY2025), The group reported a sales revenue of RM2.6 billion, representing a notable year-on-year increase of 55%. Profit After Tax and Minority Interest (PATAMI) saw an uptick of 222% to RM71 million compared to 9MFY2024, while Sales Volume also growing by 65% over the corresponding period. In 3QFY2025, the Group recorded Sales Revenue of RM830 million, a 6% decrease compared to the preceding second quarter (2QFY2025). PATAMI showed an improvement, rising by 17% quarter-on-quarter to RM35 million. However, on yoy basis, the group saw its net profit decline 32% compared to RM50 million achieved in the period before in 2024. Raw material prices in 3QFY2025 experienced a downtrend quarter-on-quarter, with the average natural latex concentrate price decreasing by 9% and the average nitrile latex price declining by 4%. Lim Cheong Guan, Managing Director of Top Glove, acknowledged the headwinds impacting the quarter. 'Our 3QFY2025 performance was impacted by pronounced headwinds, chiefly lower Average Selling Prices (ASPs), heightened competition, coupled with cost savings pass-through,' he remarked. 'However, it is encouraging that we have remained profitable while successfully delivering volume growth.' Despite evolving tariff actions and trade dynamics that may limit near-term visibility, Top Glove said remains confident in the long-term prospects of the glove industry. The company believes the industry continues to be supported by robust fundamentals and heightened hygiene awareness post-pandemic. Related
Malaysian Reserve
29-05-2025
- Automotive
- Malaysian Reserve
Malaysian Pacific Industries retains Buy, target price lowered to RM22.58
Malaysian Pacific Industries Bhd posted relatively subdued quarterly earnings in 3QFY25, with revenue declining marginally by 1.2% YoY to RM520m – versus RM526m in 3QFY24 – underscoring persistent softness across key end markets. Profitability remained under pressure, with core profit after tax and minority interests (PATAMI) plunging 23% year-on-year , primarily due to less favourable product mix, and earnings before interest, taxes, depreciation, and amortisation margin narrowing by 4 percentage points YoY to 23%. Geographically, Europe sales weakened (-7.4% quarter-on-quarter, -5.5% YoY) as the automotive segment remained lacklustre. US sales saw a notable sequential pickup of +23.5% QoQ, but the region continued to post a 6.3% YoY contraction, likely attributable to prolonged inventory adjustments, in light of macroeconomic uncertainty. Cumulatively, U.S. sales in 9MFY25 contracted by 20.2% YoY, dragging MPI's core PATAMI by 14.5% YoY to RM109.1m – making up only 55% of our full-year estimate and 69% of consensus – falling short of expectations. The group declared a second interim dividend of 25 sen per share, bringing total year-to-date dividend per share to 35 sen. As we roll forward our valuation, we reiterate our Buy call, but with a lower target price of RM22.58 (from RM26.80), based on 27x price-to-earnings ratio (PER) (-1.5 standard deviation of 3-year average forward PER) applied to FY26F earnings per share of 83.6 sen. – BIMB Securities Sdn Bhd (May 29, 2025) (Calls by analysts tracked by Bloomberg: 5 Buy, 2 Hold, 1 Sell; Consensus target price: RM21.99)
