Malayan Flour Mills 3Q profit rises 6% to RM26.4 mil

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 KUALA LUMPUR (Nov 5): Malayan Flour Mills Bhd’s (MFM) net profit rose 6% to RM26.4 million in the third quarter ended Sept 30, 2014, from RM24.9 million in the previous corresponding quarter.

 But revenue fell 6% to RM569.3 million from RM606.7 million a year ago.

 Despite the higher net profit, MFM said it recorded lower profit margin in its flour and trading in grains segment, in a filing with Bursa Malaysia.

 Lower revenue was mainly attributable to lower sales recorded in poultry integration segment.

 For the nine-month period, net profit jumped 44% to RM63.1 million from RM43.9 million a year ago, while revenue grew 2.3% to RM1.71 billion from RM1.67 billion in the same period last year.

 The higher net profit was mainly due to improved margin in the poultry integration segment, said MFM.

 The larger revenue was mainly due to higher sales volume from the flour and trading in grains segment in the third quarter.

 On prospects ahead, MFM expects the group’s performance this year to be ‘favourable’, despite the competitive market environment and volatile commodity prices and foreign exchange rates.