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NewsFelda Global unit’s Q1 net profit rises to RM66.4m
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Felda Global unit’s Q1 net profit rises to RM66.4m
by hlk Tue 08 May 2012, 08:07
Revenue for the first quarter was also higher at RM531.76 million compared with RM503.18 million in the first quarter of the year ended December 2011.
Kuala Lumpur: MSM Malaysia Holdings Bhd, a Felda Global Group subsidiary, has registered a net profit of RM66.39 million in the first quarter ended March 31 2012, a slightly better performance compared with RM62.2 million recorded in the same previous quarter.
Revenue for the first quarter was also higher at RM531.76 million compared with RM503.18 million in the first quarter of the year ended December 2011.
Profit before tax was, however, lower at RM88 million in the period under review compared with RM90.02 million in the previous corresponding quarter.
In its filing to Bursa Malaysia yesterday, the company said the higher revenue was due to the increase in sales volume for exports and higher average price during the period under review.
The lower pre-tax profit, meanwhile, was due to lower gross profit margin recorded resulting from higher cost of sales due to the increase in raw sugar price.
The company said it expects to sustain its satisfactory performance this year.
MSM Malaysia, which made its debut on the local bourse last year at a RM3.38 retail price, saw its price jump 53.25 per cent or RM1.80 to a last traded price of RM5.18.
Kuala Lumpur: MSM Malaysia Holdings Bhd, a Felda Global Group subsidiary, has registered a net profit of RM66.39 million in the first quarter ended March 31 2012, a slightly better performance compared with RM62.2 million recorded in the same previous quarter.
Revenue for the first quarter was also higher at RM531.76 million compared with RM503.18 million in the first quarter of the year ended December 2011.
Profit before tax was, however, lower at RM88 million in the period under review compared with RM90.02 million in the previous corresponding quarter.
In its filing to Bursa Malaysia yesterday, the company said the higher revenue was due to the increase in sales volume for exports and higher average price during the period under review.
The lower pre-tax profit, meanwhile, was due to lower gross profit margin recorded resulting from higher cost of sales due to the increase in raw sugar price.
The company said it expects to sustain its satisfactory performance this year.
MSM Malaysia, which made its debut on the local bourse last year at a RM3.38 retail price, saw its price jump 53.25 per cent or RM1.80 to a last traded price of RM5.18.
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