Top Glove Corporation Bhd announced excellent financial performance for the First Quarter of Financial Year 2026 (1QFY2026) ending 30 November 2025, marking a strong start to the new financial year.
During the period, Top Glove, the world’s largest glove manufacturer, recorded sales revenue of RM884 million despite facing a challenging competitive environment. Net Profit After Tax and Minority Interest (PATAMI) increased sharply to RM39 million, up 680% compared to the previous year.
This achievement reflects the company’s continued operational discipline and market agility after returning to profitability in FY2025. In addition, total sales increased by 17% compared to the same period last year, driven by recovering glove demand and strategic improvement initiatives.
Top Glove’s success in the first quarter of FY2026 was mainly driven by increased sales volume in key markets, particularly in the United States. Despite the increase in sales volume, sales revenue declined slightly due to lower average selling prices. The price decline was in line with the decrease in raw material costs and the strengthening of the Ringgit against the US Dollar.
However, higher factory utilisation rates improved cost efficiency and economies of scale. In addition, quality improvement measures, cost optimisation, focused marketing strategies and organisational restructuring helped reduce expenses and improve operational effectiveness.
Despite the decrease in raw material prices, Top Glove shared some of the cost savings with customers, demonstrating pricing strength and long-term commitment to customers. The company also continued to hedge its US Dollar requirements to reduce foreign exchange risk.
Top Glove Managing Director Lim Cheong Guan said, “This strong start to FY2026 continues the positive momentum of last year and marks a significant milestone as EBITDA margins returned to pre-pandemic levels. Our improved performance is the result of our relentless focus on quality and cost optimisation, while meeting customer needs amid the recovery in glove demand.
“We will continue to execute on our strategic initiatives and are confident that we can maintain our upward trajectory and deliver sustainable value to all stakeholders.” he added.
Going forward, the outlook for the glove industry remains bright as the product continues to be a key requirement in the healthcare sector and various other industries. The Group expects glove demand to continue to grow across key geographies, supported by ongoing replacement cycles and emerging opportunities.
To meet the increasing demand, Top Glove will continue to activate more production lines in line with improved lead times and capacity utilization rates, while maintaining a focus on operational excellence through quality and cost optimization initiatives.
