Kossan Rubber Records Second Quarter Net Profit With Drastic Surge

 Kossan Rubber Industries Bhd recorded a net profit in the second quarter ended June 30, 2021, with encouraging and unexpected records.

The company achieved a profit with a jump of RM1.06 billion compared to RM131.06 million recorded in the same quarter last year.

According to a statement reported to Bernama, the group's revenue jumped RM2.24 billion from RM701.68 million previously.

Kossan said that the increase in revenue was influenced by higher yields from the three divisions namely gloves, technical rubber products and clean room division.

In addition, the increase in net profit was also driven by the higher average selling price of the gloves as well as the stronger demand for the product.

At 10.00am, looking at the trading session on Bursa Malaysia today, Kossan shares rose 3.34% or 11 sen to RM3.40 from RM3.29 at the close on Tuesday.

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