Top Glove expects FY2026 profit to rise as glove demand, prices strengthen

Executive chairman Tan Sri Dr Lim Wee Chai said global glove demand continues to expand by about 10 per cent annually, while some supply constraints have also provided support to selling prices. — Bernama pic

First Published: Saturday, 12 Sep 2026 2:41 PM MYT

CYBERJAYA, Sept 12 — Top Glove Corporation Bhd expects to deliver improved earnings for the financial year ended August 31, 2026 (FY2026), underpinned by sustained global glove demand and higher average selling prices (ASPs).

Executive chairman Tan Sri Dr Lim Wee Chai said global glove demand continues to expand by about 10 per cent annually, while some supply constraints have also provided support to selling prices.

“Demand is growing every year by about 10 per cent, so demand is good. When demand is more than supply, prices go up. Now, some factories may be affected, so supply is a little affected or short, while demand is still strong,” he told Bernama here today.

He said this when met after the launch of Stuck in the Middle, a book by University of Cyberjaya Pro Chancellor Tan Sri Dr R. Palan.

Lim noted that the improved demand-supply dynamics are expected to translate into a better performance for the world’s largest glove manufacturer compared with the previous financial year.

“The profit will be much better than one year ago. The outlook is good. We are going to announce the August 2026 results next month, on October 6. It will be a better quarter and a better year compared with the previous years,” he said.

Lim stressed that stronger demand and higher selling prices are key factors supporting the improved outlook.

He said geopolitical conflicts or pandemics could also lead customers to increase orders as a precaution, further supporting glove demand and prices.

“Normally, when there is a war or pandemic, customers or consumers sometimes have some slight panic, so they buy a little bit more and order a little bit more.

“When glove prices increase, it is good for the whole industry and the whole supply chain, so profitability will be better,” he explained.

On rising crude oil prices, Lim said higher oil prices would increase the cost of petroleum-based raw materials used in glove production, including nitrile-related inputs.

“When crude oil prices increase, raw material prices increase, and glove selling prices will also increase. When crude oil prices come down, the manufacturing cost of raw materials also comes down,” he said.

Lim said despite fluctuations in external costs, maintaining operational efficiency remains crucial for the group.

“More importantly, internally we must be very quality and cost efficient,” he added.

Top Glove’s net profit jumped to RM80.98 million in the third third quarter ended May 31, 2026 (3Q) compared with RM34.74 million recorded in the previous corresponding quarter, while revenue also rose to RM1.09 billion from RM830.25 million previously. — Bernama