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NewsMSM Malaysia 1Q profit drops 7% on lower domestic sales
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MSM Malaysia 1Q profit drops 7% on lower domestic sales
by Cals Tue 14 May 2013, 00:21
MSM Malaysia 1Q profit drops 7% on lower domestic sales
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Monday, 13 May 2013 17:55
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KUALA LUMPUR (May 13): MSM Malaysia Holdings Bhd reported a 6.67% year-on-year drop in net profit for its first quarter due to lower domestic sales.
In a filing with Bursa Malaysia, the sugar manufacturing group said net earnings for its first quarter ended March 31, 2013 (1QFY13) came to RM61.96 million on revenue of RM514.96 million.
Compared to the previous corresponding quarter, MSM Malaysia’s net profit was RM66.39 million on higher revenue of RM531.76 million.
“(The lower revenue was) due to lower domestic sales despite an increase in export sales as compared to the same quarter last year,” said MSM Malaysia in the filing.
“Notwithstanding the volatility of commodity prices, the group is expected to be able to sustain its satisfactory performance,” said the group on its prospects.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Monday, 13 May 2013 17:55
A + / A - / Reset
KUALA LUMPUR (May 13): MSM Malaysia Holdings Bhd reported a 6.67% year-on-year drop in net profit for its first quarter due to lower domestic sales.
In a filing with Bursa Malaysia, the sugar manufacturing group said net earnings for its first quarter ended March 31, 2013 (1QFY13) came to RM61.96 million on revenue of RM514.96 million.
Compared to the previous corresponding quarter, MSM Malaysia’s net profit was RM66.39 million on higher revenue of RM531.76 million.
“(The lower revenue was) due to lower domestic sales despite an increase in export sales as compared to the same quarter last year,” said MSM Malaysia in the filing.
“Notwithstanding the volatility of commodity prices, the group is expected to be able to sustain its satisfactory performance,” said the group on its prospects.
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