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Update Kulim 1Q profit grows 403% yoy after KFC, QSR sale
by Cals Wed 22 May 2013, 19:58
Update Kulim 1Q profit grows 403% yoy after KFC, QSR sale
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 22 May 2013 19:01
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KUALA LUMPUR (May 22): Kulim (Malaysia) Bhd’s net profit for its first quarter was an increase of 403% from a year earlier.
The jump in profit was due to the disposal of its subsidiaries QSR and KFC to Massive Equity Sdn Bhd.
In a filing with Bursa Malaysia, the company reported net earnings of RM345.53 million for its first quarter ended March 31, 2013 (1QFY13). In the previous corresponding quarter, its net profit stood at RM68.71 million.
Kulim’s revenue came to RM258.86 million, which was 23.92% higher than 1QFY12’s RM208.89 million. This was due to an increase in fresh fruit bunch production.
“The prevailing downward trends in palm products prices are deemed temporary and are anticipated to recover, albeit at lower level than the realised average price for the year ended 2012,” the company said on its prospects.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 22 May 2013 19:01
A + / A - / Reset
KUALA LUMPUR (May 22): Kulim (Malaysia) Bhd’s net profit for its first quarter was an increase of 403% from a year earlier.
The jump in profit was due to the disposal of its subsidiaries QSR and KFC to Massive Equity Sdn Bhd.
In a filing with Bursa Malaysia, the company reported net earnings of RM345.53 million for its first quarter ended March 31, 2013 (1QFY13). In the previous corresponding quarter, its net profit stood at RM68.71 million.
Kulim’s revenue came to RM258.86 million, which was 23.92% higher than 1QFY12’s RM208.89 million. This was due to an increase in fresh fruit bunch production.
“The prevailing downward trends in palm products prices are deemed temporary and are anticipated to recover, albeit at lower level than the realised average price for the year ended 2012,” the company said on its prospects.
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