The poultry company in a filing to Bursa Malaysia on Tuesday said its net profit for 1Q14 increased 110 per cent year-on-year (y-o-y) to RM3.11 million compared with RM1.48 million in 1Q13.
At the same time, the company said its turnover rose 24 per cent y-o-y to RM117.34 million against RM94.58 million in 1Q13.
CCK in its notes accompanying the release of its 1Q14 financial results said the increase of the company’s revenue was attributed to higher income from the opening of new retail outlets.
On a quarter-on-quarter (q-o-q) basis, the company said its revenue declined 7.7 per cent to RM117.34 million compared with RM127.18 million in 4Q13.
The company observed that weakened demand from consumers and tight competition has affected the group’s performance.
Commenting on the company’s prospects, CCK said, “The group will continue to look for opportunities to expand its network of outlets in both Malaysia and Indonesia.
“We will remain focused in managing operating costs effectively and to increase market share both domestically and internationally.
“In view of the generally higher operational cost environment, the group expects its performance for the current financial year to be comparable with that achieved in the previous financial year,” the company said.
Read more: http://www.theborneopost.com/2014/05/29/cck-sees-one-fold-jump-in-first-quarter-net-profit/#ixzz3vh4Qj6Dl
May 29, 2014
CCK (7035) - CCK sees one-fold jump in first quarter net profit
http://www.theborneopost.com/2014/05/29/cck-sees-one-fold-jump-in-first-quarter-net-profit/
