Supermax full year profit jumps to RM152m

SUPERMAX Corporation Bhd registered a significantly increased pre-tax profit of RM152.139 million for the financial year ended Dec 31, 2009, compared with RM51.998 million in 2008.

In a statement here today, the glove manufacturing company said its net profit jumped almost three folds to an impressive RM129.7 million from RM47 million in the previous year.

Its revenue rose to RM814.836 million from RM811.823 million previously.

Supermax said the increase in manufacturing margins and the management's main focus on inventory management, receivable management, production efficiency management and financial management were main contributors to the higher profit level which rose over 176 per cent from previous year.

Profits from associate companies which increased substantially also contributed to the net profit, it said.

The company has proposed a final dividend of eight per cent tax exempt amounting to RM10.8 million to be paid out on June 28, 2010.

It also declared a special dividend of nine per cent tax exempt amounting to RM12.2 million.

The final dividend is subject to shareholders' approval at the company's annual general meeting on May 19.

For the fourth quarter ended Dec 31, 2009, Supermax's revenue increased by 7.4 per cent to RM196.417 million from RM182.825 million in the corresponding quarter of 2008 on the back of strong global demand, increased output from refurbished lines and higher prices for its rubber gloves.

Its pre-tax profit also advanced to RM50.602 million from RM4.092 million previously.

BERNAMA