KUALA LUMPUR (Feb 24): KOSSAN RUBBER INDUSTRIES BHD []’s earnings fell 17.5% to Rm24.28 million in the fourth quarter ended Dec 31, 2011 from RM29.45 million a year ago as the gloves division was impacted by the high price of natural latex in 2011.
It said on Friday that its revenue was higher by 11.2% to RM281.53 million from RM252.97 million. Earnings per share were 7.46 sen compared with 9.15 sen.
For FY11, its earnings fell 18.3% to RM92.97 million from RM113.76 million in FY10. Its revenue increased 4.3% to RM1.092 billion from RM1.046 billion
On the prospects, Kossan said the technical rubber products division was growing steadily and the group was penetrating into projects for infrastructure products and more orders from overseas.
“In the gloves division, demand for gloves remains strong and vibrant. Management is positive the gloves division will continue to garner higher turnover and profit before taxation for financial year 2012,” it said.
Kossan added the ratio of turnover in this division is 60% natural latex and 40% nitrile latex gloves.
“An additional nine new single formers lines is expected to be ready by April 2012 with a capacity of 1.25 billion pieces per year. Turnover for total nitrile gloves is expected to move towards 48% and with higher profit margin; the group sees positive movement in profit before taxation,” it said.
It said on Friday that its revenue was higher by 11.2% to RM281.53 million from RM252.97 million. Earnings per share were 7.46 sen compared with 9.15 sen.
For FY11, its earnings fell 18.3% to RM92.97 million from RM113.76 million in FY10. Its revenue increased 4.3% to RM1.092 billion from RM1.046 billion
On the prospects, Kossan said the technical rubber products division was growing steadily and the group was penetrating into projects for infrastructure products and more orders from overseas.
“In the gloves division, demand for gloves remains strong and vibrant. Management is positive the gloves division will continue to garner higher turnover and profit before taxation for financial year 2012,” it said.
Kossan added the ratio of turnover in this division is 60% natural latex and 40% nitrile latex gloves.
“An additional nine new single formers lines is expected to be ready by April 2012 with a capacity of 1.25 billion pieces per year. Turnover for total nitrile gloves is expected to move towards 48% and with higher profit margin; the group sees positive movement in profit before taxation,” it said.
