Top Glove - RHB Research 2025-10-10: Latex-driven Volume Growth; Upgrade To NEUTRAL

• Top Glove's FY25 results came ahead of our expectations but missed consensus’. While Top Glove's share price rallied 16% post results, we believe valuations are fair following our earnings reassessment.
• - Read this at SGinvestors.io -

FY25 beat ours, but missed consensus’ estimates.

• Top Glove reported 4QFY25 core PATAMI of MYR24.9m, bringing FY25 core PATAMI to MYR24.1m. This exceeded our forecast of MYR2.6m, but fell short of consensus’ MYR59m.
• - Read this at SGinvestors.io -
• higher utilisation of operating plants.
• A final dividend of 0.48 sen was declared, implying a 35% dividend payout ratio.

Latex-driven growth.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-09-18 Top Glove - ASP To Remain Under Pressure; Keep SELL.

Price targets by other brokers at Top Glove Target Prices.

Listing of research reports at Top Glove Analyst Reports.

Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividend Payout Dates & Corporate Actions,
Top Glove News