KYM Holdings posts pre-tax loss of RM7.6m

KYM Holdings Bhd has posted a pre-tax loss of RM7.56 million for its financial year ended Jan 31, 2012, as compared to a pre-tax profit of RM19.98 million in the preceding financial year.

However, revenue rose to RM78.15 million from RM66.22 million previously, KYM said in a statement today.

"The manufacturing revenue increased to RM76.6 million as compared to RM65.81 million previously, due to higher sales to the food and beverages sector from our Carton division and a new supply contract from our industrial paper bags division.

"However, the pre-tax profit has decreased to RM3.9 million from RM5.3 million previously, mainly due to the higher raw material costs and lower selling prices to the food and beverages sector," it said.

KYM also expects the manufacturing division to continue to be the core business and the main contributor to the group while the property development division is still in the initial planning stages and expected to commence contribution to the group in the coming financial years. -- Bernama