Back in the black. Medi-Flex (Not rated), reported 1HFY10 net profit of RM5.4m (against a net loss of RM2.5m in 1HFY09). We believe the improvement in earnings was largely due to operating leverage effects on the back of higher utilisation rates, which more than offset the higher latex prices (+27.4% yoy) and weaker US$ against RM (-3.9% yoy).
Top Glove Corporation Berhad : Medi-Flex Back In The Black-17/03/2010
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