Carotech Bhd, an ACE Market listed company, suffered pre-tax loss of RM16.233 million in its first quarter ended Sept 30, 2011, compared to a pre-tax profit of RM2.887 million in the same
period, last year. Revenue for the three-months, however, rose to RM12.988 million from RM10.420 million previously.
In a filing to Bursa Malaysia today, the company said the heavy loss was mainly due to production costs incurred to further process existing work-in-progress stocks, into the required concentration for sales.
"The board of directors anticipates the coming financial year to be challenging, with the debt restructuring exercise pending, and the continued poor economic sentiment globally," the company said. -- Bernama
period, last year. Revenue for the three-months, however, rose to RM12.988 million from RM10.420 million previously.
In a filing to Bursa Malaysia today, the company said the heavy loss was mainly due to production costs incurred to further process existing work-in-progress stocks, into the required concentration for sales.
"The board of directors anticipates the coming financial year to be challenging, with the debt restructuring exercise pending, and the continued poor economic sentiment globally," the company said. -- Bernama
