Dutch Lady 3Q earnings up 77% to RM23.6m, dividend 35c

KUALA LUMPUR (Nov 15): Dutch Lady Milk Industries Bhd’s earnings rose 77% to RM23.60 million from RM13.32 million a year ago boosted by lower operating costs, higher sales and favourable sales mix.

It said on Tuesday revenue increased by 9.85% to RM201.71 million from RM183.62 million while earnings per share were 36.87 sen compared with 20.82 sen. It declared a dividend of 35 sen per share.

“The company’s revenue for the current quarter was 10% higher compared to the preceding year’s corresponding quarter mainly due to continued strong demand for the company’s liquid and powder products. The profit before taxation for the financial quarter was higher by RM11.7 million, mainly attributed to the higher sales and favourable sales mix,” it said.

Dutch Lady said the revenue in the current quarter was flat compared to the preceding quarter. As for profit before taxation for the current quarter, it was down by RM5.4 million mainly due to the higher imported dairy raw material costs and equipment impairment provision.

For the nine-month period, the earnings grew 52.2% to RM124.55 million from RM82.89 million while revenue rose at a slower pace of 11% to RM599.24 million from RM539.85 million.