PRICEWORTH International Bhd saw its net profit surge six times to RM10.3 million for the nine months ended 31 March 2018.
The timber and sustainable forest management group’s 526 percent jump in net profit followed a 17.5 percent rise in revenue to RM130.4 million for the nine months, it said in an announcement to Bursa Malaysia.
MSM Malaysia Holdings Berhad (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Berhad (FGV), swings back to the black in its first quarter ended 31 March 2018 (Q1FY18), as it delivers a net profit of RM15.81 million against a net loss of RM34.62 million recorded in the prior year comparable period.
Earnings per share for the quarter under review stood at RM2.25 against RM4.93 in loss per share in Q1FY17. The much-improved performance in the current quarter was attributable mainly due to lower raw material costs and favorable foreign exchange rate. Also boosting MSM’s performance is the reduction of administrative expenses, down 33.0% quarter-on-quarter or RM9.1 million from RM23.8 million.
Malakoff Corporation Bhd, a member of MMC Group, recorded RM1,604.2 million in revenue for the quarter ended 31 March 2018 (“1Q FY2018”), a decrease of 10% from RM1,781.0 million reported in the corresponding quarter ended 31 March 2017 (“1Q FY2017”). The Group also recorded lower profit before tax of RM97.0 million compared with RM174.7 million reported in 1Q FY2017, a decrease of 44.5%.
The drop in revenue was primarily attributed to lower capacity payment recorded from Segari Energy Ventures Sdn. Bhd. (“SEV”) following the reduction in tariff under the extended Power Purchase Agreement (“PPA”) effective from 1 July 2017.