Malaysia's Top Glove Q3 earnings dented by US import ban

But net profit and sales surge from same period last year as pandemic worsened

Malaysia's Top Glove says a ban on its products in the U.S. has hurt sales. © Reuters

P PREM KUMAR, Nikkei staff writer

June 9, 2021 19:39 JST

KUALA LUMPUR -- A ban on Top Glove-manufactured products in the U.S. contributed to double-digit declines in revenue and net profit in the three months ended May 31 from the previous quarter, the Malaysian medical glove maker announced on Wednesday.

Revenue and net profit fell 22% and 29%, respectively to 4.16 billion ringgit ($1 billion) and 2.06 billion ringgit in the financial third quarter from the second, the company said in a stock market filing.