MSM back in the black in first quarter with RM15.8m net profit

PETALING JAYA: MSM Malaysia Holdings Bhd swung to the black for the first quarter ended March 31, 2018, registering a net profit of RM15.81 million against a net loss of RM34.62 million in the previous corresponding period, driven by low raw material costs and favourable foreign exchange rates.
Revenue, however, declined 14.2% to RM549.06 million from RM640.05 million, on the back of a 7% reduction in the overall tonnage sold and lower average selling prices.
MSM told Bursa Malaysia today that it maintains its positive outlook for 2018 and is expected to gain from improved operations, low raw sugar prices and the strengthening of the ringgit in the near term.
On Bursa Malaysia today, MSM fell half a sen or 1.25% to RM3.95 on volume of 267,800 shares.