Author Topic: RUBBEREX  (Read 112 times)

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RUBBEREX
« on: May 22, 2017, 09:02:09 PM »
Rubberex Corp (M) Bhd registered an 8.23% fall in net profit to RM3.33 million for the first quarter ended March 31, 2017 (1QFY17) from RM3.63 million a year earlier. Earnings per share dipped to 1.45 sen from 1.58 sen.
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Re: RUBBEREX
« Reply #1 on: May 22, 2017, 09:02:31 PM »
The decline, said Rubberex, was mainly due to higher costs of production, especially latex and resin, which are key components of its manufactured products.

Revenue rose 8.05% to RM80.48 million from RM74.48 million in 1QFY16, the group said in a filing today.

The group has proposed a first interim dividend of 0.75 sen a share half the dividend proposed in the same period last year payable on Aug 18. The ex-date is July 26.

On its current year prospects, Rubberex said while demand remains stable, the group continues to face challenges such as rising labour and material costs and exchange rate fluctuations. "The group continues to mitigate these headwinds via process automation and various cost saving measures," it said.

The disposable glove manufacturer also said the first phase of its nitrile disposable gloves project is running at 80% capacity, and will be fully utilised by the second half of this year.

The second phase which would increase capacity by another 500 million pieces to 1.5 billion pieces per year is now underway, said the group. "Commercial production is expected to commence by the second half of 2018," it said.

Shares of Rubberex gained 2 sen or 2.52% to close at 81.5 sen today, giving it a market capitalisation of RM186.72 million.
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