By Liz Lee

KUALA LUMPUR – Malaysia’s Karex Bhd (Reuters), expects that demand will surpass levels pre-pandemic. This is due to consumers buying premium products and restocking federal health agencies.

Durex’s sales increased by 30% and now account for 60%, an increase of 49% from a year ago.

According to CEO Goh Miah Kiat, Karex’s… consumer segments has grown despite a 40 percent drop in global consumption,” he told Reuters Friday.

“I expect that the demand will recover to levels pre-pandemic. The increase in premium product purchases could lead to even greater sales.

After the pandemic that triggered factory shutdowns and hampered social activities, the sales of the consumer businesses are on the rise, Goh stated to Reuters.

He refused to give outlook numbers.

Although sales increased 6% in the last year, they fell 4% from the previous year. It also suffered its first annual loss since 2013, when the company was listed.

Refinitiv Eikon data shows that sales are expected to increase 9% in fiscal 2022.

Goh indicated that the restocking of distributors or government departments, which were depleted in two years ago, would help boost demand.

Goh stated that “we’re beginning to see a lot more orders coming in an emergency basis.”

Goh indicated that Goh also plans on launching new products, such as a condom made from synthetic material. He said the company wants to diversify into glove manufacturing.

Goh indicated that it will initially produce 500,000,000 gloves at the Thailand-based plant by March. The goal is to then increase its production capacity to 2.5 billion over three years.

($1 = 4.1770 ringgit)