KUALA LUMPUR (Feb 20): MSM Malaysia Holdings Bhd, the sugar refining unit of Felda Global Ventures Holdings Sdn Bhd, posted a higher pre-tax profit of RM359.373 million for its financial year ending Dec 31, 2011 from RM305.732 million recorded in the previous year.
Revenue for the 12-month period jumped to RM2.299 billion from RM2.168 billion previously.
For the fourth quarter ended Dec 31, 2011, MSM Malaysia registered a pre-tax profit of RM108.648 million, down from RM110.956 million in the corresponding quarter of the previous year.
Revenue for the three months, however, rose to RM609.538 million from RM542.506 million previously.
In a filing to Bursa Malaysia on Monday, the company said the increase in revenue in the fourth quarter was mainly due to increased sales volume for export and higher average price.
"The decline in profit was due to due to lower fair value gain recorded during the quarter. Notwithstanding the volatility of commodity prices, the group is expected to be able to sustain its satisfactory performance," it said.
Revenue for the 12-month period jumped to RM2.299 billion from RM2.168 billion previously.
For the fourth quarter ended Dec 31, 2011, MSM Malaysia registered a pre-tax profit of RM108.648 million, down from RM110.956 million in the corresponding quarter of the previous year.
Revenue for the three months, however, rose to RM609.538 million from RM542.506 million previously.
In a filing to Bursa Malaysia on Monday, the company said the increase in revenue in the fourth quarter was mainly due to increased sales volume for export and higher average price.
"The decline in profit was due to due to lower fair value gain recorded during the quarter. Notwithstanding the volatility of commodity prices, the group is expected to be able to sustain its satisfactory performance," it said.
