VIP 0.00% 0.3¢ vip gloves ltd

A turn around story definitely due to the pandemic and is set to...

  1. 1,456 Posts.
    lightbulb Created with Sketch. 503
    A turn around story definitely due to the pandemic and is set to structurally change the demand for gloves for the foreseeable future. Earnings report to be out by next Monday. Expecting a positive net earnings but remember this is only the beginning. The second half of the year is what will propel it's net earnings and share price to the moon.

    1) Nitrile glove average selling price skyrocketed from us$20 per box before the pandemic to us$60 per box. Some latest reports have the figure at us$80-100 per box. For spot orders (without waiting), prices are as high as us$180 per box.
    2) The waiting period for Nitrile glove is a whooping 590 days if you order today according to Top Glove, the world largest glove maker. VIP has previously mentioned it's orders fully filled through Q2 2021 but I think it should now be through Q4 2021 at the minimum.
    3) Current capacity at 620m gloves per year and expanding to 1billion gloves per year.
    4) If you do the math, you will know we are easily looking at $10m and above in net profit just for second half of this year.
 
watchlist Created with Sketch. Add VIP (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.