KUALA LUMPUR (Aug 22): Dutch Lady Milk Industries Bhd’s revenue grew 6.8% to RM263.5 million for the second quarter ended June 30, 2017  (2QFY17) from RM246.7 million in the previous corresponding quarter.

However, the group’s net profit came in lower at RM32.2 million in 2QFY17, down 12.2% from RM36.7 million a year ago. The lower quarterly profit was dragged down by the increase in material prices, according to its filing with Bursa Malaysia this evening.

For the six months ended June 30, 2017 (6MFY17), the group’s net profit fell 9.1% to RM64.2 million from RM70.6 million last year, despite the 3.5% growth in revenue to RM513.6 million from RM496.5 million last year.

On the group’s prospects, Dutch Lady said it expects the overall domestic market to remain challenging with poor consumer sentiment, higher material prices and a weak ringgit.

“Nonetheless, the company will remain focused and committed to leveraging on the strength of the Dutch Lady brand and the quality offerings to Malaysian consumers,” it added.

Dutch Lady’s share price was up four sen at RM59.22, for a market capitalisation of RM3.79 billion.