[KOSSAN RUBBER INDUSTRIES BHD：销量增加]
1Q20 vs 1Q19:
1Q20 vs 4Q19：
手套部门在1Q20录得收入5.4825亿令吉，较4Q19的5.1203亿令吉增长7.07％。 PBT在1Q20上升16.82％至7713万令吉，相比前一季为6602万令吉。业绩改善主要归因于与4Q19相比有更高的销量（+ 8.3％）。
James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM2.34 (dividend RM0.04) in 1 year 9 months 10 days, total return is 232.9%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.71 (dividend RM0.04) in 1 year 10 months 19 days, total return is 120.1%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.57 (adjusted)(dividend RM0.055) in 11 months 18 days, total return is 117.1%
d) TOPGLOV (TOP GLOVE CORP BHD), recommended on 1 July 18, initial price was RM12.14, rose to RM23.64 (adjusted)(dividend RM0.32) in 1 Year 10 months 21 days, total return is 97.4%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.03 in 1 year 3 months 30 days, total return is 79.1%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.22 (dividend RM0.148) in 1 Year 7 months 14 days, total return is 48.9%
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[KOSSAN RUBBER INDUSTRIES BHD: higher volume sold]
1Q20 vs 1Q19:
For the 1st quarter ended 31 March 2020, the Group’s revenue increased by 8.90% to RM611.47 million as compared with RM561.47 million in 1Q19. Profit before taxation (PBT) rose 9.93% to RM82.53 million as compared with RM75.08 million in the corresponding quarter last year.
The Gloves division’s revenue increased 10.31% to RM548.25 million in 1Q20 from RM495.99 million in 1Q19, while PBT rose 13.49% to RM77.13 million in the current quarter as compared with RM67.96 million from a year ago. The improved performance was mainly attributable to higher volume sold (+7.4%) as compared with 1Q19.
The TRPs division PBT eased 49.27% to RM3.46 million as compared with RM6.81 million from a year ago.
The Cleanroom division recorded revenue and PBT of RM24.53 million and RM1.84 million respectively in 1Q20, as compared with RM17.11 million and RM0.58 million in 1Q19.
1Q20 vs 4Q19:
The Group recorded revenue of RM611.47 million in 1Q20, rising 5.73% as compared with RM 578.35 million in the immediate preceding quarter. PBT rose 14.19% to RM82.53 million from RM72.28 million in 4Q19. The performance was mainly attributable to the improvement in the Gloves division.
The Gloves division recorded revenue of RM548.25 million in 1Q20, rising 7.07% from RM512.03 million in 4Q19. PBT rose 16.82% to RM77.13 million in 1Q20 as compared with RM66.02 million in the immediate preceding quarter. The improved performance was mainly attributable to the higher volume sold (+8.3%) as compared with 4Q19.
The TRPs division PBT decreased 29.33% to RM3.46 million as compared with RM4.89 million in the immediate preceding quarter.
The Cleanroom division recorded revenue and PBT of RM24.53 million and RM1.84 million respectively in 1Q20, as compared with RM20.93 million and RM0.77 million in 4Q19.
The demand for protective gloves is expected to remain robust, with the Malaysian Rubber Glove Manufacturers Association (“MARGMA”) projecting global glove demand to grow to 345 billion pieces in 2020 (2019: 298 billion pieces), out of which 65% is expected to come from Malaysia, with Thailand and China at 18% and 9% respectively. Malaysia is expected to export 225 billion pieces of gloves valued at RM20bil in 2020 compared with 170 billion pieces worth RM17.4 billion in 2019.
Due to the effect of COVID-19 the demand for gloves has increased and with a supply shortage in the market, this has driven selling prices higher. With the Group’s continued improvements in operating efficiency, management is confident that FY2020 will be a strong growth year for the Group.
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the forecasted growth of a company must > 14% per year
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