HLT Global is principally involved in the design, fabrication, installation, testing and commissioning of glove-dipping lines for glove manufacturing companies.
KUALA LUMPUR: Glove company HLT Global Bhd reported lower sales and reduced gross profit margin in first quarter ended March 31.
Revenue fell 18% to RM26.13mil from RM31.85mil a year ago.
"The decrease in revenue was attributable to lower revenue in both glove-dipping lines and rubber gloves segments," HLT Global said in a filing with Bursa Malaysia today.
The group recorded a gross profit of RM890,00 with a gross profit margin of 3.4%.
However, the reversal of an impairment loss on a trade debtor boosted its net profit to RM2.6mil.
The group is positive on its outlook for the year.
"Given the vibrant and growing rubber glove industry in Malaysia, the prospect of our Rubber Gloves Segment would seem promising," HLT Global said.
It also see a bright prospect for its glove-dipping line business.
"The Group will continue to execute its business strategies and has put in place a series of future plans to strengthen its position in the glove-dipping line industry in Malaysia as well as the overseas market," it said.
HLT Global is principally involved in the design, fabrication, installation, testing and commissioning of glove-dipping lines for glove manufacturing companies.
https://www.thestar.com.my/business/business-news/2020/06/22/hlt-global-reports-lower-sales-weak-profit-margin-in-q1
