Malaysia’s Top Glove Corp., the world’s largest rubber glove maker, says it expects a shortage of gloves over the next three years as it reported a record quarterly profit fueled by the coronavirus pandemic.
Top Glove says its net profit grew 21-fold from a year earlier to $590 million in the three months through November, while revenue almost quadrupled to $1.17 billion.
It says the deployment of vaccines next year will not hurt glove demand, since it will take time for them to become widely available and people administering the shots will need protective gear.
It projects glove demand will outstrip supply for the next three years.
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