Ann: Quarterly Activities Report, page-12

It's inaccurate to use cashflow statement to estimate profitability due to many reasons but this is probably as best as one can get while waiting for the earnings report next month.

In the quarter ending June 2020, VIP probably has a annual production cap of around 443m gloves (before commissioning of the 2 news lines which will bring it to 620m annual cap).

VIP generated net positive cash flow of $1.01m in operating activities for the quarter. Assumption is that this is roughly the net profit that we generate.

Compare this with Careplus Berhad which just announced their result a week ago. Careplus has an annual production capacity of 4.1b glove. It generated core net profit of RM20.9m (minus one time gain on asset disposal) or about $6.88m.

On a Vis-a-vis production cap/profit comparison, VIP actually performed much better than Care plus which is it's larger competitor. Most likely reason is due to high Nitrile glove margin. And company will expand to 1 billion production cap by 1H2021.

Honestly don't see why people would think it's bad? Care plus share price surged 48.5% in a week after its result release.