Hartalega First Quarter Net Profit Jumps To RM70.03 Mln

KUALA LUMPUR, Aug 4 (Bernama) -- Hartalega Holdings Bhd’s net profit for the first quarter ended June 30, 2026 (1Q 2026) rose to RM70.03 million from RM12.61 million a year earlier.

Revenue for the quarter increased to RM605.75 million from RM553.10 million previously, primarily driven by higher average selling prices (ASPs), which more than offset lower sales volumes and helped mitigate the impact of higher raw material costs arising from the West Asia conflict.

The glove manufacturer said that while revenue and profitability improved, the operating environment remains challenging. “Industry-wide oversupply, intense price competition from Chinese manufacturers, structural overcapacity and ongoing geopolitical uncertainties continue to weigh on performance,” it said in a stock exchange filing.

Hartalega said it remains cautiously optimistic about the long-term prospects of the global glove industry, supported by growing hygiene awareness, expanding healthcare access in emerging markets and demand that continues to exceed pre-pandemic levels. “The clearance of pandemic-era stockpiles has led to healthier customer inventory levels, although ordering patterns remain uneven and recovery conditions vary across markets,” it added.

Against this backdrop, the company said it delivered an improved performance during the quarter despite ongoing geopolitical uncertainties and challenging industry conditions. “Stronger results were underpinned by higher ASPs, improved production efficiency, lower unit production costs and disciplined cost management, which together helped mitigate the impact of higher input costs and market volatility,” it added.

-- BERNAMA