Hartalega Q3 net profit up 19.6pc to RM60.62m

KUALA LUMPUR: Hartalega Holdings Bhd reported a 19.6 per cent net profit increase of RM60.62 million for the third quarter ended December 31 2012 compared with RM50.66 million a year ago.

Group revenue for the period rose 7.2 per cent to RM259.56 million from RM241.95 million, while earnings a share was 8.28 sen against 6.96 sen in the same quarter last year.

Hartalega managing director Kuan Mun Leong was bullish on the group’s growth prospects in the nitrile market, given its sterling results and the growth in global demand for nitrile rubber gloves.

“Our position as the world leader in the nitrile market remains as strong as ever and we intend to hold on to this position, especially with our long-term plans in place,” he said in a statement.

The world’s largest synthetic glove manufacturer declared a second interim dividend (single tier) of 3.5 sen per share in respect of the financial year ending March 31 2013. This brings total dividends declared to date for the first and second interim periods to seven sen.

“We are pleased to deliver consistently strong results in line with the group’s continuous expansion efforts,” Kuan said.