Reading the notes to the Q4'20 report, there are one-off provisions and expenses recognised in this Q4 of RM21.64m. Adding that back to the PBT of RM59.5m, Q4 PBT wld have been RM81.1M, a big jump from Q3'20 PBT of RM49.7m. This has also not yet accounted for the roughly 2-3 weeks of shutdown and loss of production/sales in Q4'20 due to the Covid infection at the plant.

As such, and with ASPs continually rising, the coming Q1'21 results should show a very big jump from Q4'20 numbers and this cld be announced as early as end Apr'21.

ccboperator - Just to let you know whatever info I provided is factual and publicly available (as per links earlier on capacity, and conclusion of Brazilian JV 100% takeover below) which I found and glad to share. Each one has to make their own conclusions and I think these facts will help with making a more informed decision. I shared this because The Edge article yesterday seemed to give an unbalanced view of Carepls simply based of recent FY losses and share price has moved 200% etc, without considering future bright prospects based on the Brazilian JV developments and potential for Carepls to capitalise on its large 4.14b capacity in this record high glove demand market.

In terms of valuation of the share price, everyone has their own method or even ways of prediction. To be objective, Carepls gross profit % is not as high as say Comfort's but this cld be due to different product mix or production efficiencies etc, so it may not reach as high a valuation as Comfort eventually would. But one thing imho is sure, Carepls results will show a significant turnaround and growth due to the addition of the 1.2b capacity from the 100% ownership of Careglove & today's Ansell JV and most importantly the perfect setting of record demand, high prices and lower costs in the coming months.

Brazilian JV 100% take over by Carepls: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3023000

This from their announcements and published financial reports, for eg see page 8 of their 2018 financial report on the capacity info:
https://www.careplus.com/wp-content/uploads/2019/05/Careplus_Annual_Report_2018.pdf

Careplus now may seem to have run up fast if based on past years results. In 2019, losses were due to higher raw mats, etc and operating costs. However if analyse further in 2018, its main sub Careglove which was a 50% JV w Brazilian co, had a profit of RM10m+ of which Carepls share was 50%. Their 50% share profit was cancelled by losses from other subs like CMSB of which is to be JV w Ansell. In Feb20 however, Careplus has taken over 100% of the Brazilian JV - so any profits in that subs will now be 100% belonging to Careplus. Careplus planned JV w Ansell should also result in higher sales and margins in CMSB which will have instead of CMSB losses dragging down the Careplus Group bottomline, it wld contribute positively instead.

Careplus total capacity is 4.14 bil gloves. This consists of 2.4 bil from Careglove, 1.32 bil from CMSB, and 0.42 bil from Rubbercare. So now with 100% control of Careglove, they will have the 50% of 2.4b (ie 1.2b) capacity added to their own bottomline. In 2018, if the 50% profit of Careglove was included, Careplus Group wld have made Rm3.8m profit instead of (Rm1.42m) loss.

Consider Carepls 4.14bil p.a. glove capacity compared to Ruberex 1 bil and Comfort 5.4 bil and see how much Ruberex (1.78) and Comfort (1.64) share prices is so much higher now? Careplus 0.54 price is mainly becos of the previous yr's losses but I think market is missing out that they have extra 1.2b capacity contribution from Careglove now w 100% control which will be an instant boost to their bottomline. Also the global demand and higher prices + lower raw mat costs wld see Careplus results being much better than last year and the sudden change from 'losses' in 2019 to profits this year will make this counter seem like a laggard. In Q1-3 2019, results showed losses but Q4 2019 started to show a slight profit already, so heading into 2020 the profit can only be trending upwards with this crazy demand from all over the world.