By Chester Tay

Hartalega Holdings Bhd. said net profit for the first quarter ended June 30 more than doubled from a year earlier, thanks to higher glove sales in the wake of the Covid-19 pandemic, along with lower raw material and energy costs.

Net profit for April to June rose to 219.7 million ringgit ($52.0 million), while revenue grew 44% to MYR920.1 million.

The glove maker expects demand to continue growing in the coming years due to the Covid-19 pandemic.

The group said the overall projected growth in glove demand is expected to outstrip supply for the next few years due to the pandemic and heightened hygiene awareness in emerging markets.

The glove maker said it will continue its capacity expansion and plans to grow annual installed capacity to 44 billion pieces by fiscal 2022 from the current 39 billion pieces. 



  Write to Chester Tay at chester.tay@wsj.com