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bullish

Top Glove Corp (TOPG MK): Break-Even Achieved in 1QFY25, Strong Demand to Persist in Coming Quarters

606 Views23 Dec 2024 06:19
SUMMARY
  • Top Glove Corp (TOPG MK) achieved 80% YoY revenue growth in 1QFY25 and returned to profitability with a net profit of RM5M.
  • With robust demand outlook, Top Glove expects the ASP to further strengthen. The company aims to recover its EBITDA margin to pre-pandemic levels of 15% by FY26 from 10% now.
  • Import alert and expected tariff increase on Chinese manufacturers, may help shift the focus from China to Malaysia, as the preferred sourcing destination, thereby helping Top Glove.
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