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Thursday, May 15, 2014

Malayan Flour Mills earnings soar on higher sales

Source: http://www.thestar.com.my/Business/Business-News/2014/05/15/MFM-earnings-soar-on-higher-sales/

PETALING JAYA: Malayan Flour Mills Bhd’s (MFM) first-quarter earnings to March 31 increased 126.41% to RM23.14mil on the back of an 11.15% increase in revenue to RM579.38mil, driven by higher sales from both the flour and trading in grains segment and the poultry integration segment.
The company told Bursa Malaysia earnings per share increased to 4.3 sen from 1.9 sen in the previous corresponding period. As of the first quarter, its cash rose to RM294.47mil from RM214.96mil previously.
MFM said the flour and trading in grains segment recorded a revenue of RM316.3mil in the first quarter compared with RM277.4mil previously due to a higher volume of flour and grains sold.
The poultry integration segment recorded an 8% increase in revenue to RM263.1mil due to the higher sales volume of poultry products and animal feeds, as well as better selling prices for live birds and poultry products.
For the period, the poultry integration segment achieved an operating profit of RM15.8mil compared with RM5.5mil previously. This was mainly attributed to improved profit margins.
In a separate filing, MFM said Lim Pang Boon, 58, has retired from his position as executive director.


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