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Coronavirus

Top Glove cleans up with record profits as coronavirus spurs sales

Malaysian group says lead times for new orders now extend to 400 days

Top Glove posted a net profit of $82.3 million for the three months ended May 31, a 365% increase from the year-earlier quarter.   © Reuters

KUALA LUMPUR -- Top Glove Corporation has reported a huge surge in quarterly profits as the coronavirus pandemic played into the hands of the world's largest producer of latex gloves.

The Malaysian company posted net profit of $82.3 million for the three months ended May 31. That was treble its net profit in the prior quarter and a rise of 365% compared with the same period of the preceding year.

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