Coming Thursday results for UG likely mirror Supermax below.
Note the comments by them:

" the prices will continue to trend upwards, adding that the highest ASPs have not yet been reflected in this current quarter for the group."

&ldquo We are optimistic that our original brand manufacturer (OBM) and Distribution Business Model will exhibit even healthier and stellar performances in the coming quarters,&rdquo
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Profit margin of 50% lifts Supermax 2Q net profit to record RM1.06 bil, declares 3.8 sen dividend
KUALA LUMPUR (Jan 29): Supermax Corp Bhd reported a new record net profit of RM1.06 billion for the second quarter ended Dec 31, 2020 (2QFY21), a 34% quarter-on-quarter jump from RM789.52 million in preceding 1QFY21.

Quarterly revenue surged to RM2 billion compared with RM1.35 billion in the preceding quarter. This implies a net profit of nearly 50%.

Earnings per share (EPS) ballooned to 41.14 sen in the quarter compared with 30.58 sen a quarter ago.

The anticipated big leap in earnings was mainly fuelled by higher average selling prices (ASPs) as demand for gloves continued to soar worldwide against the backdrop of the Covid-19 pandemic.

Furthermore, the group has an increase in production capacity.

Supermax declared an interim single tier dividend of 3.8 sen per ordinary share for the current financial year ending June 30, 2021, to be paid on Feb 26. It did not declare a dividend in the same quarter a year ago.

On a year-to-year basis, net profit jumped by a whopping 3,412% from RM30.17 million last year, as revenue jumped more than four times from RM385.5 million a year ago.

Commenting on ASPs, Supermax said in a statement today that the prices will continue to trend upwards, adding that the highest ASPs have not yet been reflected in this current quarter for the group.

While the roll out of Covid-19 vaccines is expected to cause glove demand and consumption to moderate, the company said it believes that it will likely be gradual and not drop sharply due to the structural change in consumption, such as new consumption, new customers and greatly heightened healthcare and hygiene awareness.

&ldquo Natural rubber glove prices, which have been lagging its nitrile counterpart rather significantly throughout the pandemic, are beginning to gap up in tandem with rising demand as nitrile glove supply becomes more constricted by raw material supply constraints.

&ldquo We are optimistic that our original brand manufacturer (OBM) and Distribution Business Model will exhibit even healthier and stellar performances in the coming quarters,&rdquo it said.

Shares of Supermax ended 24 sen or 3.66% higher at RM6.80, giving it a market capitalisation of RM17.8 billion.

Kathy Fong