大提琴家的股市投资笔记 / The Cellist's Share Investment Note: TOPGLOV latest quarter financial report

Friday 5 April 2019

TOPGLOV latest quarter financial report

Today let's have a look at TOPGLOV latest quarter financial result.

First of all,
I was quite happy to see that both the Revenue and Profit from operations improved:

HOWEVER,
when I continued to read:

The profit was not much different than last year same quarter.......
We can even say that the profit decreased a bit..........

Of course,
there are several reasons.

Let's see what the management commented:

There are things that we couldn't observe from the above date,
for example like the Sales Volume increased by 16%,
and the average selling price was higher than last year Q2.

The reason of not much increment of profit,
was because of higher tax expenses.

Comparing with last year Q2,
price of Natural rubber latex dropped 17.7% (RM3.62/kg),
whereas price of Nitrile increased by 1.9% (RM1.08/kg)

If comparing the Q1 this financial year:

The average selling price was lower because of downtrend in raw material costs and pricing pressures.

That was why even though Sales Volume grew by 1%,
but Revenue dropped by 8.1%.

The profit also dropped because of competitive environment and weakening of USD.

The lower average selling price was because price of Natural rubber latex dropped by 4.2%,
and price of Nitrile latex dropped by 14.3%.

The expansion schedule:

Put it here so that it will be easier for me to refer back at the future.

Lastly,
prospects by the management:

The issuance of Exchangeable Bonds was completed,
and improvement on operations of Aspion will keep going on.

The management still remains positive on glove industry outlook.

That's all for the TOPGLOV latest quarter financial report.

If you want to know more details,
feel free to download the financial report from Bursa website and have a read.

As for now............
the shares price of TOPGLOV dropped a lot comparing with last time.

Is it a chance? Or a trap?

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.