Top Glove Achieves 91% Sales Volume Growth in Q4 FY24, Eyes Profitability in 2025

Top Glove Corporation Bhd reported significant growth in sales volume in Q4 FY2024, achieving a 91% rise compared to Q4 FY2023. Sales revenue increased by 75% year-on-year, reaching RM835 million, while the company posted an RM8 million profit after tax.

Full-year sales volume grew 19%, and loss after tax was reduced to RM18 million for FY2024. Growth in the U.S. market, especially due to supply disruptions from competitors, helped drive these gains. Top Glove expects to return to profitability in FY2025 as glove demand continues to rise, especially in the U.S.

Top Glove – Improved performance

Mr Lim Cheong Guan, Managing Director of Top Glove says, “The Group’s financial performance has improved significantly over the course of FY2024, bringing us closer to breaking even. Our full year EBITDA is positive while Sales Volume growth continues to be healthy.

“These are strong indicators of market resurgence and we are well positioned to ride the recovery wave. Our consistent progress has been driven by ongoing improvement initiatives, and with the continued support of our employees, the Group is confident we are well on the path to profitability and sustainable growth.”