{"id":149556,"date":"2022-01-14T11:37:11","date_gmt":"2022-01-14T11:37:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=149556"},"modified":"2022-01-14T11:37:11","modified_gmt":"2022-01-14T11:37:11","slug":"top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels\/","title":{"rendered":"Top condom maker Karex sees 2022 demand topping pre-pandemic levels"},"content":{"rendered":"

KUALA LUMPUR (Reuters) – The world\u2019s top condom maker, Malaysia\u2019s Karex Bhd, expects demand to top pre-pandemic levels this year on consumer buying of premium products and restocking by federal health agencies.<\/p>

FILE PHOTO: A staff of of Malaysia’s condom manufacturer Karex shows a condom at its factory in Pontian, 320 km (200 miles) southeast of Kuala Lumpur November 7, 2012. REUTERS\/Bazuki Muhammad<\/figcaption>

Sales to brands such as Durex rose 30% in fiscal 2021 and accounted for 60% of its revenue, up from 49% a year earlier.<\/p>\n

\u201cWhen there was a 40% drop in terms of global consumption, Karex\u2019s … consumer segment has continued to grow,\u201d CEO Goh Miah Kiat told Reuters on Friday.<\/p>\n

\u201cThis year, I expect the demand to recover to pre-pandemic times. Sales value could increase even more as consumers are buying more premium products.\u201d<\/p>\n

Sales are increasing particularly at the company\u2019s consumer business, after the pandemic triggered lockdowns, shutting factories and hampering social activities, Goh told Reuters.<\/p>\n

He declined to provide outlook numbers.<\/p>\n

In the year ended June 2021, the company\u2019s sales grew 6%, versus 4% in the previous year, though it logged its first annual loss since listing in 2013.<\/p>\n

For fiscal 2022, analysts expect sales to grow 9%, Refinitiv Eikon data shows.<\/p>\n

Goh said demand would be buoyed by restocking by distributors and government departments which have been depleted over the past two years.<\/p>\n

\u201cWe\u2019re starting to see a lot of orders coming in on an emergency basis,\u201d Goh said.<\/p>\n

The company is also planning to launch new products this year, including a condom made of synthetic material, and is looking to diversify into medical glove manufacturing, Goh said.<\/p>\n

It will start out with a target to produce 500 million gloves at its plant in Thailand by March and aims to increase production to a full capacity of 2.5 billion in three years, Goh said.<\/p>\n

($1 = 4.1770 ringgit)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR (Reuters) – The world\u2019s top<\/p>\n","protected":false},"author":3,"featured_media":149555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nTop condom maker Karex sees 2022 demand topping pre-pandemic levels - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top condom maker Karex sees 2022 demand topping pre-pandemic levels - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR (Reuters) – The world\u2019s top\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-14T11:37:11+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/01\/Top-condom-maker-Karex-sees-2022-demand-topping-pre-pandemic-levels.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels\/\",\"url\":\"https:\/\/precoinnews.com\/business\/top-condom-maker-karex-sees-2022-demand-topping-pre-pandemic-levels\/\",\"name\":\"Top condom maker Karex sees 2022 demand topping pre-pandemic levels - 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