IT WAS a record year for rubber glove maker Supermax Corp Bhd (7106) in 2009, and 2010 is likely to be the same.
Rubber glove makers are enjoying strong global demand for the health control product, helped in part by the influenza A (H1N1) pandemic.
"Demand for rubber gloves continues to outpace supply and Supermax will continue to register double-digit growth in 2010 and possibly 2011," Supermax executive chairman and group managing director Datuk Seri Stanley Thai told reporters during a briefing in Kuala Lumpur yesterday.
In the fiscal year to December 31 2009, Supermax's net profit jumped almost threefold to RM129.7 million, its highest ever since its establishment 23 years ago.
Revenue rose 7.4 per cent to RM196.4 million.
"Capacity will grow at least 30 per cent a year and we aim to increase our production to 17.7 billion pieces by year-end and 21.7 billion pieces by 2011," said Thai, who owns 20.6 per cent of the company.
Supermax, which exports to 145 countries, has the capacity to produce 14.4 billion pieces of rubber gloves, or around 15 per cent share of the world market.
Ongoing refurbishment works and construction of a plant in Meru, with additional capacity of 2.3 billion pieces of gloves a year, are expected to contribute to the group's future performance.
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