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Quarterly Report For The Financial Period Ended 30 June 2017

 Financials Archive Financial Statement (515 KB)

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Unaudited Condensed Consolidated Statements of Comprehensive Income for The Period Ended 30 June 2017

Unaudited Condensed Consolidated Statements of Financial Position

Review of Performance

(a) Quarter on Quarter

The Group recorded a total revenue of RM 692.46 million quarter on quarter, which was RM 58.60 million or 9.2% higher compared to the same period last year of RM 633.86 million on the back of improved selling price.

The Group recorded a loss after tax of RM 21.45 million as compared to profit after tax (PAT) of RM 23.68 million in the previous corresponding period due to the higher raw material costs purchased by the Group, which peaked at 20.54 cents per pound and weakening Ringgit. The average raw sugar cost for the Group had increased by 54.0% (RM/mt) compared to the same period last year due to higher market price of raw sugar. The subsequent decline in the current market price of sugar of about 13.75 cents per pound had adversely affected the overall margins of the Group.

(b) Year on year

The Group revenue for the first half of the year 2017 was RM 1,341.43 million comapred to RM 1,187.02 million revenue in the same period last year due to improved selling price and higher volume of refined sugar sold for the Domestic market segment.

The Group recorded the lost after for the six (6) months period ended 30 June 2017 of RM 56.07 million as compared to previous corresponding period's PAT of RM 83.02 million due to higher production costs and higher raw material cost. Higher cost of material in tandem with weakening Ringgit.

Current year Prospects

Notwithstanding the volatility of commodity prices, the Group is expected to be able to perform in line with the industry.The Group is of the view that the results are expected to improved in the near term with the replacement of the stocks of raw sugar material at the current lower raw sugar market price.