MARKET DEVELOPMENT
Kulim Malaysia's Q3 Pre-Tax Profit Falls To RM45.49 Million
Kulim Malaysia's Q3 Pre-Tax Profit Falls To RM45.49 Million
29/11/2013 (Bernama) - Kulim (Malaysia) Bhd's pre-tax profit for the third quarter ended Sept 30, 2013 fell to RM45.49 million from RM82.20 million in the same quarter last year.
Revenue dwindled to RM682.92 million from RM719.30 million last year.
The company said the lower pre-tax profit was due to lower palm product prices as compared to the same quarter last year.
The group expects its performance for the remaining quarter to be satisfactory despite the challenges in the current financial year.
"The group's performance in the remaining period of the year will be significantly influenced by the direction of palm oil prices and crop production trends.
"The plantation division has since taken concrete steps to improve its operational productivity and cost efficiency in order to offset any further weakening in the commodity prices," Kulim (Malaysia) said in a filing to Bursa Malaysia Thursday.
Revenue dwindled to RM682.92 million from RM719.30 million last year.
The company said the lower pre-tax profit was due to lower palm product prices as compared to the same quarter last year.
The group expects its performance for the remaining quarter to be satisfactory despite the challenges in the current financial year.
"The group's performance in the remaining period of the year will be significantly influenced by the direction of palm oil prices and crop production trends.
"The plantation division has since taken concrete steps to improve its operational productivity and cost efficiency in order to offset any further weakening in the commodity prices," Kulim (Malaysia) said in a filing to Bursa Malaysia Thursday.