Malaysia’s Top Glove Quarterly Earnings Plunge 48 Percent on Slower Sales

Malaysia’s Top Glove Quarterly Earnings Plunge 48 Percent on Slower Sales
A worker leaves a Top Glove factory after his shift in Klang, Malaysia on Dec. 7, 2020. Lim Huey Teng/Reuters
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KUALA LUMPUR—Malaysia’s Top Glove Corp. Bhd posted on Friday a 48 percent drop in its fourth-quarter earnings as the steady rollout of vaccines worldwide pulled down the demand for gloves.

The world’s largest medical glove maker recorded a net profit of 607.9 million ringgit ($145.88 million) during June-August, compared with 1.17 billion ringgit a year ago, lagging behind the 8.69 billion ringgit estimate by analysts in a Refinitiv poll.