PETALING JAYA: Top Glove Corp Bhd
is expected to see a turnaround in its operations in the next few months amid an improving market environment.
According to analysts, expectations that the world’s largest glove maker will return to operational profitability within the short term are supported by increasing global demand for gloves and rising average selling prices (ASP) of its products.
In its report, UOB Kay Hian Research (UOBKH Research) said Top Glove could take another one to two quarters to turn around its core losses even though the sector’s trend of improving operating statistics and the recent precipitous tariff hikes by the United States on China’s medical-grade gloves might be sufficient to allow Top Glove’s intrinsic valuations to be re-rated.
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